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BCV Group reports strong 9M 2012 results, with operating profit up

BCV Group reported strong financial results at 30 September 2012, in line with the trend observed in recent reporting periods. Revenues came in at CHF 760m* and business volumes continued to expand. Operating profit rose CHF 4m to CHF 364m.


Revenues stable

Total revenues for the nine months ending 30 September were CHF 760m, holding steady compared with the year-earlier period. Interest income was likewise stable at CHF 393m. Fee and commission income rose 1% to CHF 258m. Trading income increased 3% to CHF 89m, driven in part by the firm business trend in structured products. Other ordinary income fell by CHF 21m (–13%) due to a base effect relating to non-recurring sales of securities in 2011.

Operating profit up 1% to CHF 364m

Total operating expenses declined by 1% to CHF 396m. Personnel costs dropped 1% to CHF 251m and other operating expenses were down 2% to CHF 145m. This effective cost control drove a 1% rise in operating profit, to CHF 364m.

Rise in customer-driven business volumes

Total assets expanded 9% to CHF 41.2bn, mainly reflecting the rise in liquid assets deposited with the Bank. Mortgage lending was up 2% (+CHF 541m) to CHF 22.6bn. This increase is in line with the full-year growth target announced at the beginning of the year. Other loans fell 9% to CHF 5.3bn, primarily reflecting reduced lending in Trade Finance and Large Corporates.
On the liabilities side, the strong expansion in customer savings and investment accounts continued, with a 6% rise (+CHF 703m) to CHF 12.3bn. Other customer accounts grew by 6% (+CHF 904m) to CHF 15bn.

Rise in AuM

Group assets under management (AuM) were up 6% (+CHF 5bn) to CHF 82.1bn. Net new money amounted to CHF 718m.


These solid results in an uncertain market environment attest to the Bank’s strong franchise. Barring a significant deterioration in the financial markets and the overall economic climate, business development for the full year is expected to trend along the same lines as in the first nine months of the year.


Lausanne, Switzerland, 8 November 2012

* Unaudited figures



Christian Jacot-Descombes, Press Officer
Phone + 41 21 212 28 61

Gregory Duong, Investor Relations Officer
Phone + 41 21 212 20 71


This press release is being issued outside the trading hours of the SIX, Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.

The above text is a translation of the original French document; only the French version is authoritative.