AS AT 30 JUNE 2025
BCGE at a glance
A universal bank
Firmly rooted in Geneva
1816
since
21
branches
in Geneva
954
employees
(Full-time equivalent - FTE)
+256'000
clients
15'409 private and Institutional shareholders
Equity CHF
2.4
billion
01 I BCGE Group half-year results as at 30 June 2025
BCGE key figures
(as at 30.06.2025)
37.1
Assets under management in CHF billion
33.9
Balance sheet total
in CHF billion
9.5%
111
ROE vs operating result
Operating profit in CHF million
AA-/A-1+/Stable
Rating S&P
21.1
Loan volume in CHF billion
16.6%
Capital ratio
54.9%
94
Cost/income ratio
Net profit
BBB
in CHF million
Rating MSCI ESG
BCGE Group half-year results as at 30 June 2025 I 02
Result remarksAd hoc announcement pursuant to Art. 53 LR
BCGE - Consistent results driven by strong business momentum
Geneva, 19 August 2025 - For BCGE Group, the first half of 2025 was driven by strong business momentum and good cost control. Assets under management and administration rose by 0.4% to CHF 37.1 billion. Client loans and mortgage loans increased by 2.7% to CHF 21.1 billion. Operating profit and net profit were impacted by lower interest rates, dropping 18.9% to CHF 111 million and 19.0% to CHF 94 million, respectively. Equity capital grew in H1 by 1.9%, reaching close to CHF 2.4 billion, and the equity capital ratio stands at 16.6%, well above the minimum requirement of 12.7%. The Bank expects 2025 results to be lower compared to 2024 due to the interest rate environment and a more fragile macro-economic environment. The 2025 annual results will be published on 17 March 2026.
Key consolidated figures for the first half of 2025
Results (in CHF thousands) | 30.06.2025 | 30.06.2024 | Year-on-year variation (2025 vs. 2024) | ||||
Operating income | 276,480 | 299,609 | -23,129 | -7.7% | |||
Operating expenses | 151,797 | 150,061 | 1,736 | 1.2% | |||
Operating profit | 110,878 | 136,639 | -25,761 | -18.9% | |||
Half-year profit | 94,000 | 116,024 | -22,024 | -19.0% | |||
ROE (operating profit to equity) | 9.49% | 12.42% | -292 basis points | -23.5% | |||
Balance sheet volumes (in CHF thousands) | 30.06.2025 | 31.12.2024 | Year-on-year variation (2025 vs. 2024) | ||||
Total assets | 33,903,923 | 32,436,420 | 1,467,503 | 4.5% | |||
Mortgage loans | 14,615,811 | 14,204,922 | 410,889 | 2.9% | |||
Assets under management and administration | 37,101,974 | 36,954,981 | 146,993 | 0.4% | |||
Shareholders' equity | 2,391,913 | 2,346,215 | 45,698 | 1.9% | |||
Tier 1 capital ratio | 15.92% | 15.90% | 3 basis points | 0.2% | |||
Ratio of regulatory capital available | 16.56% | 16.66% | -10 basis points | -0.6% | |||
Staff (full-time equivalents) | 954 | 968 | -14 | -1.5% | |||
Results impacted by lower interest rates
Operating profit fell 18.9% to CHF 111 million and net profit declined by 19.0% to CHF 94 million, impacted by the unfavourable interest rate environment and the uncertain economic outlook. Turnover stood at CHF 276 million (-7.7%), underpinned by strong business momentum that partially offset the lower interest margin.
Revenues were further diversified. Net interest income dropped 16.6% to CHF 164 million, but was counterbalanced by commissions, which grew 6.1% to CHF 77 million and trading operations, which rose 5.5% to CHF 21 million. BCGE Group's international activities remain robust, with the euro and US dollar portion making up 26.1% of turnover.
Expenses are fully under control, settling at CHF 152 million (+1.2%). The pace of investment remains strong, allowing the Bank to improve its productivity and adjust to the growth in business volumes without increasing the number of employees, which stands at 954 full-time equivalents (-14). The cost/income ratio of 54.9% reflects lower interest rates and good cost control.
03 I BCGE Group half-year results as at 30 June 2025
Lending on the rise
Loans to companies and individuals were up 2.7% to CHF 21.1 billion, with CHF 14.6 billion in mortgage loans and CHF 6.5 billion in client loans. The proportion of mortgage loans in the balance sheet total (43%) reveals a high level of diversification. Over 256,000 clients place their trust in BCGE, including 23,135 companies.
Steady inflow of assets under management and administration
Assets under management and administration rose by 0.4% to CHF 37.1 billion, demonstrating BCGE's commercial success and confirming clients' trust in the Bank. This increase was driven by assets under management, buoyed by discretionary management mandates, investment funds and client deposits.
Growth in equity capital
Equity capital grew by CHF 46 million over H1 and currently stands at CHF 2,392 million. The equity capital ratio only dropped by 10 basis points, settling at 16.6%, well above the minimum requirement of 12.7%, despite the repayment of the AT1 loan, the implementation of the final Basel III standard and lending growth. As a result, the Bank boasts a robust risk profile, which is reflected in its AA-/A-1+/stable rating from Standard & Poor's.
Evolution of the share price and shareholder group
The BCGE share ended the first half of the year at CHF 237 or 71% of the share's intrinsic value, which, relative to the Bank's equity capital, stands at CHF 332 as at 30 June 2025. The number of private and institutional shareholders grew to 15,409, with 202 new shareholders. Free float shares are broadly distributed, with 83% of shareholders holding between 1 and 50 shares.
Outlook
The Bank expects 2025 results to be lower compared to 2024 due to the interest rate environment and a more fragile macro-economic environment.
For further information, please contact
Press relations Investor relations
Gregory Jaquet Jérémy Linder
+41 22 809 32 39 +41 22 809 38 11
gregory.jaquet@bcge.ch jeremy.linder@bcge.ch
This press release is sent outside the opening hours of the Swiss Exchange (SIX) in order to comply with the ad-hoc publicity provisions of the Listing Rules issued by the latter. The information in this release reflects the state of affairs as at the date indicated in the introductory heading of this press release. Only the French version of this document is deemed authentic.
BCGE : Our aspiration is to fulfil the aspirations of others
Banque Cantonale de Genève (BCGE) was founded in 1816 as a universal bank and is part of the BCGE Group, which provides high-quality financial services to individual, business, and institutional clients alike. The Group's business lines include everyday banking services, private banking, asset management, investment funds, pension planning, mortgages and lending to the private and public sectors. It runs a trading room and offers financial engineering, business valuation and transmission, private equity and trade finance services. The BCGE Group is based in Geneva and also has offices in Zurich, Lausanne, Basel, Paris, Lyon, Annecy, Dubai and Hong Kong. It employs 954 people (full-time equivalents, as at 30/06/2025). BCGE is listed on the SIX Swiss Exchange (security no. 35 049 471) and is rated AA-/A-1+/stable by Standard & Poor's (S&P).
BCGE Group half-year results as at 30 June 2025 I 04
Consolidated balance sheetASSETS | 30.06.2025 | 31.12.2024 | Variation | Variation | ||||
CHF thousand | CHF thousand | CHF thousand | in % | |||||
Liquid assets | 6'768'629 | 7'028'944 | -260'315 | -3.7 | ||||
Amounts due from banks | 1'250'612 | 1'013'291 | 237'321 | 23.4 | ||||
Amounts due from securities financing transactions | 1'110'271 | 338'095 | 772'176 | 228.4 | ||||
Amounts due from customers | 6'507'182 | 6'363'182 | 144'000 | 2.3 | ||||
Mortgage loans | 14'615'811 | 14'204'922 | 410'889 | 2.9 | ||||
Trading portfolio assets | 61'678 | 75'868 | -14'190 | -18.7 | ||||
Positive replacement values of derivative financial instruments | 90'556 | 67'308 | 23'248 | 34.5 | ||||
Financial investments | 3'081'716 | 2'896'031 | 185'685 | 6.4 | ||||
Accrued income and prepaid expenses | 67'355 | 60'078 | 7'277 | 12.1 | ||||
Participations | 87'097 | 88'803 | -1'706 | -1.9 | ||||
Tangible fixed assets | 105'260 | 110'943 | -5'683 | -5.1 | ||||
Intangible assets | 28'113 | 30'064 | -1'951 | -6.5 | ||||
Other assets | 129'643 | 158'891 | -29'248 | -18.4 | ||||
Total assets | 33'903'923 | 32'436'420 | 1'467'503 | 4.5 | ||||
Total subordinated claims | 69'773 | 68'755 | 1'018 | 1.5 | ||||
of which subject to mandatory conversion and / or debt waive | r | - | - | - | - | |||
LIABILITIES | 30.06.2025 | 31.12.2024 | Variation | Variation | ||||
CHF thousand | CHF thousand | CHF thousand | in % | |||||
Amounts due to banks | 5'209'556 | 3'708'982 | 1'500'574 | 40.5 | ||||
Liabilities from securities financing transactions | 559'668 | 166'168 | 393'500 | 236.8 | ||||
Amounts due in respect of customer deposits | 19'803'429 | 20'685'797 | -882'368 | -4.3 | ||||
Trading portfolio liabilities | 25'153 | 864 | 24'289 | 2'811.2 | ||||
Negative replacement values of derivative financial instrument | s | 79'206 | 48'126 | 31'080 | 64.6 | |||
Cash bonds | 12'174 | 4'004 | 8'170 | 204.0 | ||||
Bond issues and central mortgage institution loans | 5'336'252 | 4'980'363 | 355'889 | 7.1 | ||||
Accrued expenses and deferred income | 140'675 | 162'044 | -21'369 | -13.2 | ||||
Other liabilities | 339'450 | 327'642 | 11'808 | 3.6 | ||||
Provisions | 6'447 | 6'215 | 232 | 3.7 | ||||
Reserves for general banking risks | 290'000 | 290'000 | - | - | ||||
Bank's capital | 360'000 | 360'000 | - | - | ||||
Statutory capital reserve | 273'392 | 283'984 | -10'592 | -3.7 | ||||
Statutory retained earnings reserve | 1'421'129 | 1'246'568 | 174'561 | 14.0 | ||||
Currency translation reserve | -35'737 | -34'915 | -822 | 2.4 | ||||
Own shares (negative item) | -10'871 | -18'623 | 7'752 | -41.6 | ||||
Profit/loss (result of the period) | 94'000 | 219'201 | -125'201 | -57.1 | ||||
Total liabilities | 33'903'923 | 32'436'420 | 1'467'503 | 4.5 | ||||
Total subordinated liabilities | 110'000 | 241'535 | -131'535 | -54.5 | ||||
of which subject to mandatory conversion and / or debt waive | r | 110'000 | 241'535 | -131'535 | -54.5 | |||
OFF-BALANCE-SHEETS TRANSACTIONS | 30.06.2025 | 31.12.2024 | Variation | Variation | ||||
CHF thousand | CHF thousand | CHF thousand | in % | |||||
Contingent liabilities | 1'024'016 | 834'739 | 189'277 | 22.7 | ||||
Irrevocable commitments | 802'458 | 797'574 | 4'884 | 0.6 | ||||
Obligations to pay up shares and make further contributions | 239'973 | 264'817 | -24'844 | -9.4 | ||||
Credit commitments | 97'199 | 56'474 | 40'725 | 72.1 |
05 I BCGE Group half-year results as at 30 June 2025
OTHER RESULT FROM ORDINARY ACTIVITIES
RESULT FROM COMISSION BUSINESS AND SERVICES
30.06.2025 | 30.06.2024 | Variation | Variation | |||
CHF thousand | CHF thousand | CHF thousand | in % |
RESULT FROM INTEREST OPERATIONS
Interest and discount income | 242'559 | 316'596 | -74'037 | -23.4 | ||
Interest and dividend income from trading portfolios | 33 | 35 | -2 | -5.7 | ||
Interest and dividend income from financial investments | 17'811 | 14'436 | 3'375 | 23.4 | ||
Interest expense | -85'100 | -129'821 | 44'721 | -34.4 | ||
Gross result from interest operations | 175'303 | 201'246 | -25'943 | -12.9 | ||
Changes in value adjustments for default risks and losses from interest operations | -11'222 | -4'619 | -6'603 | 143.0 | ||
Subtotal net result from interest operations | 164'081 | 196'627 | -32'546 | -16.6 | ||
Commission income from securities trading and investment activities | 36'916 | 34'494 | 2'422 | 7.0 | ||
Commission income from lending activities | 18'132 | 19'307 | -1'175 | -6.1 | ||
Commission income from other services | 27'954 | 23'063 | 4'891 | 21.2 | ||
Commission expense | -5'876 | -4'140 | -1'736 | 41.9 | ||
Subtotal result from comission business and services | 77'126 | 72'724 | 4'402 | 6.1 | ||
RESULT FROM TRADING ACTIVITIES AND THE FAIR VALUE OPTION | ||||||
Subtotal result from trading activities and the fair value option | 20'830 | 19'753 | 1'077 | 5.5 | ||
Result from the disposal of financial investments | 7'047 | 6'079 | 968 | 15.9 | ||
Income from participations | 6'304 | 5'424 | 880 | 16.2 | ||
Result from real estate | 562 | 574 | -12 | -2.1 | ||
Other ordinary income | 2'517 | 2'525 | -8 | -0.3 | ||
Other ordinary expenses | -1'987 | -4'097 | 2'110 | -51.5 | ||
Subtotal other result from ordinary activities | 14'443 | 10'505 | 3'938 | 37.5 | ||
Total operating income | 276'480 | 299'609 | -23'129 | -7.7 | ||
Personnel expenses | -91'129 | -91'179 | 50 | -0.1 | ||
General and administrative expenses | -60'668 | -58'882 | -1'786 | 3.0 | ||
Subtotal operating expenses | -151'797 | -150'061 | -1'736 | 1.2 | ||
Value adjustments on participations and depreciation and amortisation of tangible fixed assets and intangible assets | -13'221 | -11'738 | -1'483 | 12.6 | ||
Changes to provisions and other value adjustments, and losses | -584 | -1'171 | 587 | -50.1 | ||
Operating result | 110'878 | 136'639 | -25'761 | -18.9 | ||
Extraordinary income | 151 | 11 | 140 | n/a | ||
Extraordinary expenses | -950 | - | -950 | n/a | ||
Changes in reserves for general banking risks | - | - | - | - | ||
Taxes | -16'079 | -20'626 | 4'547 | -22.0 | ||
Profit/loss (result of the period) | 94'000 | 116'024 | -22'024 | -19.0 | ||
of which minority interests in profit & loss account | - | - | - | - |
OPERATING EXPENSES
BCGE Group half-year results as at 30 June 2025 I 06
Consolidated statement of changes in equityBank's capital | Statutory capital reserve | Statutory retained earnings reserve | Reserves for general banking risks | Currency translation reserve | Own shares (negative item) | Result of the period | Total | |
Equity at start of current period | 360'000 | 283'984 | 1'246'568 | 290'000 | -34'915 | -18'623 | 219'201 | 2'346'215 |
Acquisition of own shares | -3'081 | -3'081 | ||||||
Disposal of own shares | 11'306 | 11'306 | ||||||
Profit (loss) on disposal of own shares | 473 | -473 | - | |||||
Currency translation differences | -822 | -822 | ||||||
Dividends and other distributions | 455 | -46'800 | -46'345 | |||||
Special allocation to the State of Geneva (20% of dividends paid) | -9'360 | -9'360 | ||||||
Other allocations to (transfers from) the reserves for general banking risks | - | |||||||
Other allocations to (transfers from) other reserves | -11'520 | 174'561 | -163'041 | - | ||||
Profit / loss (result of the period) | 94'000 | 94'000 | ||||||
Equity at end of current period | 360'000 | 273'392 | 1'421'129 | 290'000 | -35'737 | -10'871 | 94'000 | 2'391'913 |
07 I BCGE Group half-year results as at 30 June 2025
Condensed notesHighlights
The highlights on pages 3 and 4 provide information on the economic factors that influenced the results under review and their changes from the previous year.
No significant events occurred after the end of the reporting period.
Detail of extraordinary income and expenses
30.06.2025 | 30.06.2024 | |||
CHF thousand | CHF thousand | |||
Extraordinary income | ||||
Proceeds from the sale of Tangible fixed assets | 22 | 0 | ||
Proceeds from the sale of Participations | 120 | 0 | ||
Other | 9 | 11 | ||
Total | 151 | 11 | ||
Extraordinary expenses | ||||
Non-operationg expenses | 0 | 0 | ||
Other | -950 | 0 | ||
Total | -950 | 0 |
I BCGE Group half-year results as at 30 June 2025 I 08
Stock exchange listing
The BCGE share ended the first half of the year at CHF 237 or 71% of the
share's intrinsic value, which, relative to the Bank's equity capital, stands at
CHF 332 as at 30 June 2025.
09 I BCGE Group half-year results as at 30 June 2025
Our goal is to help others achieve their goals.
Our mission is to provide our clients in the greater Geneva region with quality financial solutions and services at every stage of their lives while ensuring responsible management.
You can find all BCGE's key figures in the
annual report on the Bank's corporate
website.
I BCGE Group half-year results as at 30 June 2025 I 10
Banque Cantonale de GenèveQuai de l'Ile 17
1204 Genève
Tél.: +41 (0)58 211 21 00
https://www.bcge.ch
© Banque Cantonale de Genève. This document should not be considered as an offer, recommendation, advice (in particular investment advice) or solicitation to buy, sell or transfer the mentioned financial securities or any other related financial instrument. Nor does it constitute a "financial analysis" as defined in the "Guidelines for independent financial analysis" of the Swiss Bankers Association. Before making a decision, the reader should consult a specialist in the respective tax, accounting, real estate or other professional field. The information contained in this document is not intended to replace or substitute for legal, real estate, tax or other advice, consultation or service. The Banque Cantonale de Genève cannot guarantee the accuracy, completeness or reliability of the information contained in this document, as it is provided for informational purposes only and is subject to change without notice. Therefore, any investment decision made by the reader is his or her own responsibility. This document is not intended for natural or legal persons who, because of their nationality, their place of residence or for any other reason, are subject to jurisdictions which might prohibit or limit its use. The services, products and financial services mentioned in this document are not offered to persons residing in the United States of America and are not otherwise available in the United States of America. This is a free translation of the original French version. In case of discrepancies, the French version shall prevail