Banque Cantonale de Genève (BCGE) H2 2024 earnings summary

Executive summary

• Achieved net profit of CHF 219 million for 2024, with operating profit at CHF 258 million, reflecting robust business growth despite a slight decrease from the record 2023 results.

• Assets under management reached CHF 37.0 billion, and total assets grew to CHF 32.4 billion as of year-end 2024.

• Share price increased by 13.3% in 2024, closing at CHF 255, with a proposed dividend of CHF 6.50 per share.

• Maintained a strong equity ratio of 16.7% and a cost/income ratio of 51.6%.

Financial highlights

• Net profit: CHF 219 million (down from CHF 231 million in 2023).

• Operating profit: CHF 258 million (down from CHF 282 million in 2023).

• Total operating income: CHF 585 million (slightly down from CHF 590 million in 2023).

• Return on equity (ROE): 9.6% (2023: 10.9%).

• Cost/income ratio: 51.6% (2023: 48.3%).

• Assets under management: CHF 37.0 billion (up from CHF 35.3 billion in 2023).

• Loans volume: CHF 20.6 billion (up 7.1% year-over-year).

Outlook and guidance

• Well-positioned for 2025 with a solid universal banking franchise and diversified asset and income profile.

• Focus on sustainable competitiveness, efficiency, and targeted expansion, including technology investments and organizational streamlining.

• Dividend proposal of CHF 6.50 per share, unchanged from 2023.