Switzerland's BCV H1 profit up 5% on loan volume growth
Switzerland's BCV H1 profit up 5% on loan volume growth
Overview
Switzerland regional bank's H1 revenue rose 2% yr/yr to CHF 593 mln
Net profit for H1 increased 5% yr/yr to CHF 225 mln
Operating profit climbed 5% as higher fee income and trading offset stable interest income
Outlook
Company did not provide specific financial outlook
Result Drivers
LOAN VOLUME GROWTH - Co said expanding loan volumes offset the impact of low interest rates, keeping net interest income stable
FEE AND COMMISSION INCOME - Fee and commission income rose 5% as positive financial-market trends supported wealth-management business
TRADING INCOME - Net trading income increased 3% due to strong business volumes in structured products
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| CHF 593 mln |
|
H1 Net Income |
| CHF 225 mln |
|
H1 Net Interest Income |
| CHF 268 mln |
|
H1 Operating Expenses |
| CHF 287 mln |
|
H1 Operating Profit |
| CHF 263 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the banks peer group is "hold"
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 24 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)