The half-year operating result, which will be published on August 11, will be weighed down by the constitution of new provisions to deal with the crisis, warned the BCGE.
Half-year operating profit last year amounted to CHF 94.6 million and net profit to CHF 59.3 million.
KEYSTONE
The Banque cantonale de Genève (BCGE) issued a profit warning on Thursday evening. The constitution of new provisions to deal with the health crisis and the recent tensions on the capital market in particular hampered the half-year performance, of which the operating surplus was cut by 46% and the net profit planed by some 7%. .
Half-year operating profit last year amounted to CHF 94.6 million and net profit to CHF 59.3 million.
The bank at the end of the lake also warns that the final result in 2020 will decline, despite “very good commercial developments recorded in mortgage financing and private and institutional management”. This decline should not, however, hamper the growth in equity or the distribution of a dividend.
The publication of detailed half-year results remains scheduled for August 11.
(ats / nxp)
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