Brief: Berner Kantonalbank AG - The Annual Profit Increased By 9.6 Percent To 174.9 Million Francs

Berner Kantonalbank AG

01/02/2024 05:40

Feb 1 (Reuters) - BERNER KANTONALBANK AG  BEKN.S :
    * THE ANNUAL PROFIT INCREASED BY 9.6 PERCENT TO 174.9
MILLION
FRANCS
    * COMPARED TO THE PREVIOUS YEAR, OPERATING INCOME INCREASED
BY 9.6
PERCENT IN 2023
    * OPERATING PROFIT AMOUNTS TO 246.9 MILLION FRANCS, AN
INCREASE OF
40.4 PERCENT COMPARED TO THE PREVIOUS YEAR
    * A TOTAL ANNUAL PROFIT OF 174.9 MILLION FRANCS WAS
ACHIEVED. THIS
CORRESPONDS TO AN INCREASE OF 9.6 PERCENT COMPARED TO THE
PREVIOUS YEAR
    * CUSTOMER LOANS CHF 28.8 BILLION (PREVIOUS YEAR: CHF 27.7
BILLION)
    * OUTLOOK: BEKB IS CONFIDENT FOR THE CURRENT YEAR AND
EXPECTS
ANOTHER STRONG RESULT
    * OUTLOOK: BEKB ASSUMES THAT INTEREST RATES WILL RISE
SLIGHTLY
AGAIN AT THE LONG END
    * OUTLOOK: FIXED-RATE MORTGAGES ARE BASED ON THESE
MARKET-BASED
INTEREST RATES AND FELL SIGNIFICANTLY TOWARDS THE END OF 2023
DUE TO EXPECTATIONS OF INTEREST RATE CUTS FROM THE SNB
    * OUTLOOK: SARON MORTGAGES ARE LIKELY TO REMAIN AT CURRENT
LEVELS,
WHILE A MODERATE INCREASE IS FORESEEABLE FOR FIXED-RATE
MORTGAGES AT THE LONG END

Source text for Eikon:  ID: 
Further company coverage:  BEKN.S 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))