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2023 Annual results

CBH Compagnie Bancaire Helvétique reports continued business and revenue growth

Assets continue to grow 

Assets under management continued to grow in 2023 to reach CHF 14.3 billion, up 7% from CHF 13.4 billion at the end of 2022. The negative impact of the Swiss franc’s appreciation against major currencies was largely offset by favorable market dynamics and steady net new money inflows of CHF 1.3 billion. This growth was also supported by the hiring of several talented and experienced private bankers, particularly in our Swiss offices.

Significant increase in operating income

For the period under review, the Group recorded a 47% increase in operating income to CHF 183.5 million, with a significant increase in net interest income, mainly driven by the recent rise in interest rates. CBH’s operating expenses of CHF 81.7 million increased by 15% year on year, reflecting the pace of hiring needed to support the Group’s digitalization strategy and the development of its assets services and structuring capabilities, as well as its private markets activities. Accordingly, the operating result amounted to CHF 92.2 million, allowing CBH to post a consolidated profit for 2023 of CHF 34.5 million, up 66% compared to the previous year.

Reliable and solid foundations

CBH’s capitalization was significantly strengthened in 2023, with a Tier 1 ratio of 43% and a consolidated shareholders’ equity (including the 2023 profit) of CHF 371.7 million compared to CHF 290.5 million at the end of 2022. The quality of the Group’s balance sheet and its financial strength were also confirmed by S&P’s BBB/A-2 credit rating.

“These remarkable results confirm the consistency of our strategy in these rather uncertain times,” said Philippe Cordonier, Chief Executive Officer. “We hope to continue this positive growth trend in 2024, on the back of long-term investments in banking technology and customized investment solutions, along with digital daily banking solutions for our clients.”