Basler Kantonalbank (BSKP) H2 2024 earnings summary

Executive summary

• Group net profit rose 10.0% year-over-year to CHF 186.3 million, with business performance stable at CHF 275.2 million.

• Cost-income ratio increased to 54.8% but remained below the strategic target of 55%.

• Dividend per participation certificate increased to CHF 4.50, including a CHF 1.25 special dividend for the 125th anniversary.

• Special profit transfer of CHF 25 million to the Canton of Basel-Stadt, totaling CHF 137.2 million distributed.

• Regula Berger will succeed Basil Heeb as CEO in March 2025, ensuring leadership continuity.

Financial highlights

• Total assets grew 6.1% to CHF 55.9 billion compared to the previous year.

• Customer loans increased 1.8% to CHF 37.0 billion; customer deposits rose 7.5% to CHF 30.1 billion.

• Net income from interest activities declined 2.1% to CHF 450.9 million; commission and service income rose 4.8% to CHF 140.5 million.

• Trading income fell 13.1% to CHF 62.1 million.

• Return on equity was 5.9%, slightly below the prior year (6.1%).

• Total capital ratio remained strong at 18.5%.

Outlook and guidance

• The group expects to maintain strong performance in 2025 despite geopolitical and economic uncertainties.

• Strategy 2026+ will focus on further strengthening client orientation and efficiency.

• New CEO Regula Berger aims to build on the stable foundation and set new priorities for growth.