Web:
bpl@bpl-bondpartners.ch
Lausanne, July 19th, 2012
CP/HP/c-presse.doc/cp
PRESS RELEASE (No 102)(Summary)
Bondpartners SA : interim net profit on the increase in a still challenging environment
The first half of the year under review was contrasted. Since mid-March, financial markets returned to a clear negative trend, perpetuated by the breathlessness of global economy and renewed fever outbreaks in the euro area. While dealing turnover posted a setback and markets performance has been erratic at best, most of operating results increased within a domestic situation which was less perturbed by exchange rates. The balance sheet structure together with shareholders' equity and reserves remained stable.
The parent Company publishes a half-yearly net profit which
almost doubled at CHF 1,38million (vs. a CHF 0,71million
profit by the end of June 2011) and the Group registers a CHF
1,56million gain (vs. CHF +0,81million).
The statutory balance sheet total reaches CHF 158,6million
(+9%), current assets representing 94% of the latter, namely
liquidities and receivables from banks (CHF 77million), loans
and advances to customers (CHF 19million) and securities
portfolios (CHF 52,8million).
Individual shareholders' equity amounts to CHF 53million
(+3%). Valuation adjustments and provisions, for their part,
slightly increased by 1.5% to CHF 20,6million.
The adequacy of the basic individual shareholders' equity
(Tier 1) and that of the additional shareholders' equity
(Tier 1+2), respectively, reach 24% and 34.5%, in line with
previous deadlines and reports to SNB.
On a consolidated basis, the balance sheet total reaches CHF
158million (+9.5%), current assets totaling CHF 149,5million.
The Group's equity, for its part, comes in at CHF 73million
(+5%). On this subject, the reserves for general banking
risks have grown by 3.5% to CHF 26,3million, while revenue
reserves amounted to CHF 39,4million (+4.5%). From a
regulatory perspective (Basel II), the total of consolidated
eligible capital is CHF 73million, while the total of
required capital reaches CHF
17million.
./.
(Page 2, press release No 102)
On the subject of individual profit and loss accounts, net
income from interest differential business posts CHF 1million
(-4.5%) and net income from commission business came to CHF
0,4million (-
57%). Income from securities transactions (dealing and
financial investments) as well as results from currency
exchange and valuation of equities held on our proprietary
accounts improved significantly, in part through the
stabilization of the euro (floor price vs. Swiss franc) as
well as the subsequent
strengthening of foreign rates against our national currency,
and thanks to a better performance of financial markets, at
least during the first quarter. Trading income therefore
reached nearly CHF
3,4million (vs. CHF -1,2million in June 2011).
Operating expenses rose by 9% to CHF 3,2million, because of
greater allocations to provisions. The
gross profit, before extraordinary income and expenses, thus
comes in at CHF 1,7million (vs. CHF -
2million).
Although half-year results were encouraging, the outlook for
the next few months prompts us to remain cautious, whether on
the currencies and market level, or on the economic situation
and geopolitical developments' front. Disillusions and
uncertainties build up, volatility increases, market
operators have lost their bearings and favor a wait-and-see
stance.
Unless a concerted and massive intervention is taken,
accompanied by a sustainable balancing of budgets and public
finances, the second half of 2012 does not appear in a good
light and may trigger renewed strains and large-scale
turbulence in global financial markets.
About Bondpartners: BPL is a Swiss financial company founded in Lausanne in 1972 and whose business hinges on three main axes: the inter-professional dealing of securities, the market making and keeping, and portfolio management. It is authorized and supervised by the Swiss Financial Market Supervisory Authority (FINMA). It is listed on the stock exchange since 1986.
NB: for detailed version and figures, please refer to French
text (see "Communiqué de presse
102" also published in this website).
Note to the Edit:
This press release is broadcast on 19.07.12, out of the Swiss Stock Exchange's opening hours, in order to
comply with the ad hoc publicity principles of its listing Rules. In addition, it has been sent one working day prior to SIX Swiss Exchange.
Contact: Christian Plomb
Tel. (++41) 021 613 43 43 cplomb@bpl-bondpartners.ch
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