Swiss Bank CBH Attracts Increased Client Assets
Due to additional investments in personnel, Swiss private bank Compagnie Bancaire Helvétique significantly boosted its inflow of new funds in 2024, achieving higher profits than the previous year.
Based in Geneva and maintaining a presence in Hong Kong, Compagnie Bancaire Helvétique (CBH) reported a 14 percent increase in assets under management, reaching 16.3 billion francs ($18.5 billion) last year, according to a Thursday statement. This strong performance was driven by both positive market developments and a net inflow of 619 million francs in net new money.
Revenues grew by 9 percent to 200.8 million francs, up from 183.5 million francs the previous year, underscoring the bank’s sustainable progress, the family-run institution noted. Operating expenses increased by 17 percent year-on-year to 95.4 million francs, primarily due to investments in human capital, which accounted for 70 percent of the overall rise.
Ten Global Locations
With operations at ten locations worldwide, CBH achieved an operating profit of 84.2 million francs. After allocations for general banking risk provisions, the group posted a net profit of 36.2 million francs – a slight increase from 34.5 million francs in 2023, as reported by finews.ch earlier.
«Looking ahead, we will continue to focus on talent and digitalization, which are central to our sustainable success and future growth,» said Simon Benhamou, CEO of the group. Founded in 1975, CBH is an internationally diversified banking group that employs around 330 people at its ten global locations.
