Press releases
Press Release on Annual Results 2023
BANQUE HERITAGE ANNOUNCES HISTORIC RESULTS AND CONTINUES ITS GROWTH
STRONG RESULTS
Geneva, 29 April 2024 - Banque Heritage is proud to announce solid results for 2023, marking a major milestone in its development. These exceptional results are partly attributable to a high-interest rate environment, as well as controlled cost management coupled with stable revenues. They reflect the strong penetration of mandates and the positive performance of the client portfolio.
Consolidated revenues increased by 26.7% to CHF 73.9 million. Net profit reached CHF 16.2 million. The Group's financial structure remains solid, with a Tier 1 ratio of 20.8% and liquidity coverage (LCR ratio) of 248%. Banque Heritage continues to stand out as a well-capitalised bank, as evidenced by Moody's credit rating in the second quarter of 2023 (Investment Grade with a stable outlook). It remains one of the few banks in its category to benefit from a credit rating.
A FAMILY CULTURE AND A SUSTAINABLE COMMITMENT TO OUR CLIENTS
The Group's assets under management increased to CHF 4.08 billion, although their performance was offset by negative currency effects due to the appreciation of the Swiss franc. 2023 also saw notable net capital inflows from our operations in Switzerland and Uruguay totalling CHF 134.4 million (compared with CHF 59.1 million in 2022).
Marcos Esteve, CEO and Managing Partner of Banque Heritage stated: "These exceptional results attest to the strength and relevance of the reorientation of the Bank's operating model in Switzerland and Uruguay and lay the foundation for sustainable growth. As a private bank founded and managed by families, Banque Heritage prioritizes a close relationship and partnership with its clients. The Group will continue to invest to strengthen its commitment to its clients, offer them tailored solutions, and provide excellent services."
APPOINTMENTS WITHIN THE BOARD OF DIRECTORS
Banque Heritage announces the appointment of Torsten Koster as Chairman of the Board of Directors and Johannes Barth as Vice president effective April 23, 2024. Torsten Koster succeeds Paul-André Sanglard, who will step down after 7 years.
Already a member of Banque Heritage's Board of Directors since 2016, Torsten Koster is familiar with the bank's strategy and business model. "On behalf of the family shareholders and the Board of Directors, I would like to thank Paul André Sanglard for his remarkable commitment. Thanks to the work accomplished in recent years, Banque Heritage is well positioned to meet the challenges and seize the opportunities ahead. Our ambition now is to accelerate our growth, both internally and inorganic, with a focus on our value propositions to our customers. I am honoured by the trust shown by our family shareholders, our Board of Directors and our management team.”
At the Annual General Meeting on April 23, 2024, Olivier Nicod, a lawyer at Walder Wyss Ltd registered with the Lausanne and New York Bars, joins the Board of Directors, bringing with him extensive experience in the banking and regulatory fields.
Banque Heritage's Board of Directors currently comprises 6 members.
April 29, 2024
Press releases
Press releases
Banque Heritage Facilitates Refinancing of CHF 7M Chalet in Crans Montana for Client of Arc & Co.Specialist real estate advisory firm Arc & Co. has arranged a new CHF 7 million loan from Banque Heritage to refinance a chalet in Crans-Montana, Switzerland. The loan was arranged on behalf of a HNWI via his Swiss holding company.
October 25, 2023
Press releases
Banque Heritage Appoints Martin Ermini as Branch Manager BaselBanque Heritage SA sets next steps to grow locally and internationally and strengthens its commitment to Private Banking in Basel by appointing Martin Ermini as branch manager.
August 17, 2023
Press releases
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