Regional bank AEK Bank 1826 increases half-year profit slightly
Thun-based AEK Bank 1826, which is organized as a cooperative, increased its profit slightly in the first six months of 2024. The bank also expects a successful financial year in 2024, as it announced on Thursday afternoon.
09.08.2024, 08:38
09.08.2024, 08:39
SDA
Net operating income as a key figure for the operating result rose by 11.3 percent year-on-year to 10.3 million francs in the first half of the year. At the bottom line, the company was able to slightly increase its net profit by 1 percent to 5.3 million francs.
The bank recorded gains in all income areas. Net income from the central interest business rose by 0.8 million to 29.1 million francs. Net income from the commission and services business grew by CHF 0.2 million and net trading income by CHF 0.1 million.
On the cost side, there was an increase of 4.4 percent. Personnel expenses (+6.5 percent) increased more than operating expenses (+1.1 percent). The cost/income ratio deteriorated slightly by 1.2 percentage points to 41.6%.
As around 90 percent of total income is attributable to the interest business, the development of interest rates plays a particularly important role. Based on the current interest rate level and interest rate expectations, the bank anticipates a successful financial year 2023, the statement continues. The bank also expects "further reasonable growth with acceptable conditions."
