Key figures (at 31 December 2021)
Fully-integrated companies at 31 December 2021
Piguet Galland & Cie SA, Yverdon-les-Bains
Financial and real-estate companies
Gérifonds SA, Lausanne
Gérifonds (Luxembourg) SA, Luxembourg
Sociétés pour la gestion de placement collectifs GEP SA, Lausanne
Our business strategy is guided by our ultimate goal of creating value for shareholders, clients and employees. Our business model is that of a universal bank with solid local roots, and we believe that this is the best way to ensure profitable growth going forward. Our operations are focused on four core businesses – Retail Banking, Private Banking, Corporate Banking, and Trading – but we remain active in select niche activities offering significant growth and profitability potential. Our risk profile is moderate, and we take an active approach to equity capital management.
In 2019, we defined a new strategic phase that builds on those we have been implementing for more than ten years. This next phase aims to maintain the positive trend that the Bank’s business lines have been experiencing over the past few years. It is also designed to position the Bank to respond to the main challenges we will face in the coming years, such as heightened competition, persistently low interest rates, advancements in digital technology, and ever-changing customer needs.
For the business lines, we are targeting:
- Above-market growth in asset management, SMEs, and onshore private banking;
- At least market growth in retail banking;
- A focus on the profitability of our commodities trade finance and large corporates businesses;
- Continued development of our other business lines.
We have identified several strategic focus areas that will enable us to meet future challenges. These goals include:
- Continuing to improve our service quality along the entire value chain to create an even better customer experience;
- Enhancing our distribution channels (branches, digital services, and call centers) to give customers an integrated multichannel experience;
- Capturing more of the cross-selling potential inherent in our universal bank business model;
- Implementing operational improvements through targeted measures;
- Increasing our attractiveness as an employer and fostering continuous skills development among our employees;
- Sharpening our focus on corporate social responsibility (CSR) measures, including a wider range of sustainable banking products, socially responsible investment options, and mortgage solutions.
The Group aims to achieve sustainable growth, with revenues and operating profit trending along the same lines as in recent years. We are targeting a cost/income ratio of 57%–59% and a CET1 ratio of at least 13%; our ROE target based on this minimum target CET1 ratio is now 13.5%–14.5%. These targets should be viewed from a long-term perspective.
In line with the approach adopted over the last decade, BCV decided in early 2018 to extend its dividend policy for another five years beginning with the 2018 reporting period. Following the reduction in our tax expense due to the implementation of Vaud Canton’s corporate tax reform, the Bank intends to pay an ordinary dividend of CHF 3.40–3.80 per share (adjusted for the 10-for-1 stock split on 28 May 2020), barring significant changes in the economic or regulatory environment or in the Bank’s situation.
BCV’s corporate mandate
Pursuant to Article 4 of the Cantonal Act Governing the Organization of Banque Cantonale Vaudoise (LBCV), our corporate mandate is to offer a comprehensive range of banking services to the Vaud community, to foster the development of all sectors of the Vaud economy, and to help finance the Canton’s public-sector organizations. Also, as part of our community focus, we provide mortgage financing in the Canton. The Act also stipulates that BCV is to be guided by the principles of economically, environmentally, and socially sustainable development. More generally, our mission is to create value for our shareholders and clients, be a benchmark employer, and be a good corporate citizen.
All banks talk about corporate values. At BCV, we live them. We believe that one of the keys to our long-term success is having a common culture built around our fundamental values and shared by all our employees. Our values underpin all our actions – as well as our interactions with customers and colleagues.
Our employees strive to build close relationships with our clients, so as to better understand their day-to-day banking needs. No matter where you are in Vaud, a BCV advisor is never more than a 20-minute drive away. And with nine regional decision-making centers across the canton, clients get responses quickly.
For me, building close ties with customers means being available for them and taking the time to really listen. I do that with my colleagues too, in order to create an environment conducive to open dialogue. That way I can better understand everyone’s concerns and expectations and deliver the best solutions possible.
Arnaud Meyer, Leysin Branch Manager
Our staff are committed to providing excellent customer service and delivering the right solutions. They are constantly expanding their knowledge, developing their skills and making use of best practices.
For me, professionalism means staying attuned to the needs of each client so that we can offer them the best possible service. It also means anticipating their needs so we can bring real value to the table when we meet with them.
Jonathan Pally, Oron Branch Manager
Our people are results-oriented, always seeking pragmatic, effective solutions in their day-to-day work. They strive for excellence, one challenge at a time.
Performance at BCV means going the extra mile. If we never give up and always keep our eye on the long term, we’ll be successful.
Cristina Martinez, Broye Regional Manager - Personal Banking
Our employees take responsibility for their actions, are conscientious in their work, and are loyal to BCV and its customers. The are guided by the code of ethics of their profession and by BCV's principles of social responsibility.
Taking responsibility means going the extra mile to make sure all of the customer’s needs are met. I hold myself accountable for my decisions and always seek to improve. I think that builds credibility.
Fabienne Comte, Personal Banking Advisor
We provide a full range of banking services targeted to the needs of students, households, and the retired. Our current accounts, savings accounts, mortgage loans, retirement accounts, and life and disability insurance are designed to help customers achieve their goals and plan for the future. And we finance one out of every three newly-built homes in Vaud.
Our Private Banking advisors draw on years of experience to help high-net-worth individuals manage their finances and investments for the long term. Our advisors also provide personalized advice on issues such as tax planning, estate planning, life insurance, and disability coverage.
With targeted services for companies big and small, we help enterprises grow within Vaud and around the world. Our services cover the entire business lifecycle from start-up through to succession.
We manage assets for public-sector institutions like
pension funds and foundations, investing their money in financial markets so as to generate solid returns.
We have our own trading room, which gives us greater independence in carrying out transactions. Investors and businesses can buy and sell stocks, bonds, and currencies through a BCV trader. We also offer a trading platform where customers – whether novice investors or seasoned hands – can buy and sell securities themselves.
Banque Cantonale Vaudoise (BCV) was founded on 19 December 1845 by the Vaud Cantonal Parliament.
The Canton of Vaud is BCV’s majority shareholder, with 66.95% of the Bank’s share capital. BCV is listed in the Vaud Commercial Register and is subject to all applicable Swiss legislation. Its legal status is defined in the Cantonal Act Governing the Organization of Banque Cantonale Vaudoise (LBCV) of 20 June 1995, as amended on 25 June 2002, 30 January 2007 and 2 March 2010.
BCV’s commitments are not underwritten by the Canton. However, customer deposits are covered by a nationwide system of investor protection concerning Swiss banks and securities dealers. This system insures deposits of up to CHF 100,000 per person and per bank.
The aim of this code of professional conduct is to ensure that all BCV Group employees are aware of the behavior that is expected of the company as a whole, the governing bodies and each and every staff member.
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Keywords: La BCV
Banque Cantonale Vaudoise
Place St François 14
PO Box 300
Phone: +41 21 212 10 00
BIC / SWIFT: BCVLCH2LXXX
VAT / IDE: CHE-116.320.238 TVA
Clearing / CB: 767