BÂLOISE HOLDING AG Media information
Solothurn, 28 August 2019
Baloise Bank SoBa records strong growth in strategic business fields
- The banking and insurance strategic business model as a driver of growth: asset management and advisory mandates again grew by more than 10% in the first half of the year.
- Lending business grew strongly and exhibited a marked improvement on the previous year with continued risk-conscious portfolio development.
- Taking into account the non-recurring effects of CHF 1.4 million compared with the previous year, the operating result remained the same as previous year.
- "One year's free mortgage": with our mortgage promotion, customers can benefit doubly from the historically low interest environment when taking out a mortgage.
Baloise Bank SoBa was very satisfied with operating results in the first half of the year. Lending business developed very positively in spite of the continuing low-interest environment. Interest earnings amounted to CHF 37.5 million in the first half of 2019. "Despite considerable interest margin pressure, we were able to successfully advance our strategic business model in conjunction with insurance, recording further satisfying growth figures", explains Jürg Ritz, CEO of Baloise Bank SoBa.
Asset mandate continues to impress as a strategic cornerstone with a net performance development of up to 16.4%
Asset management and advisory mandates grew by more than 10% in the first half of the year. This is especially significant given the highs on the local stock exchanges. Market-induced investor reluctance has had no impact on the growth of mandates. Joint positioning as a bank and insurance provider with a strategic focus on pensions and wealth management has further supported this development. This has seen commission income increase and compensated for the margin-driven decline in interest income.
Net profit fell by CHF 1.2 million compared with the previous year (-8.5%), totalling CHF 12.6 million. Taking into account the non-recurring effects of the previous year (due to sales of shares among other things), the result remained on a par with the previous year, which served to reinforce the positive operating results.
Advantageous mortgage terms in a historically low interest environment
To coincide with the current low interest environment, as of September, Baloise Bank SoBa and Baloise Insurance are launching the mortgage promotion "One year's free mortgage". Over the chosen term, the customer saves on up to one year's mortgage interest, so customers stand to benefit twice over when taking out a new mortgage. "This promotion makes already favourable interest conditions even more attractive to customers. Thanks to our holistic approach, we can offer homeowners custom solutions from a single source. As well as financing by the Bank, we can offer intelligent means of hedging against the relevant risks involved with buying your own home", concludes Jürg Ritz.
Further information
- Media release at www.baloise.com
- Overview of all innovations at Baloise Group
Contact
Baloise Group, Aeschengraben 21, 4002 Basel, Switzerland
Website: www.baloise.com
Email: media.relations@baloise.com/investor.relations@baloise.com
Media Relations: Tel. +41 58 285 76 09
Investor Relations:Tel. +41 58 285 81 81
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