Comunicado de prensa

Press Release on Annual Results 2022

Banque Heritage Overcomes Turbulent Market Conditions, Demonstrates Resilience and Growth

Banque Heritage SA announces flourishing financial results for 2022, successfully weathering unprecedented market challenges and emerging stronger than ever. This success is attributed to the Bank's strategic realignment initiative, expert investment management, and a focus on innovation and long-term growth.

Geneva, 6 April 2023 – Banque Heritage SA has successfully navigated a demanding year in the financial markets, emerging even stronger and more resilient. Despite facing unparalleled market conditions characterized by simultaneous downturns in stock and bond markets, inflationary pressures, and tightening monetary policies from central banks, the group's results have surpassed expectations.

With growing revenues and overall stable operating costs achieved through streamlined processes and increased efficiency, the group posted a net result of CHF 2.9 million, in stark contrast to the loss of CHF 1.7 million in 2021. The first 3 months of 2023 also confirms this trend. Marcos Esteve, CEO and Managing Partner of Banque Heritage, stated, "The 2022 results confirm that the strategic realignment of both the Swiss bank and the Group, undertaken in recent years, is on track to deliver sustainable profitability for the future”.

The Bank's balance sheet remained relatively stable with CHF 577 million of total assets, with a high Liquidity Coverage Ratio (LCR) of 496.0% and a Tier-1 ratio of 19.0%, (respectively CHF 1 billion, 228.4% and 16.2% on a consolidated level).

This remarkable outcome reflects the successful completion of a realignment initiative launched following the merger with Sallfort Privatbank AG in 2019, as well as market-focused improvements for the Bank's affiliate in Uruguay, which benefited from rising USD interest rates in cash and lending facilitation.

In light of the market challenges in 2022 weighing in on assets, the mere 10% decline in Assets under Management to CHF 4.06 billion is a testament to the exceptional work of both the Asset Management and Private Banking units. The investment team’s ability to weather adverse conditions through exceptional portfolio management has been critical to Banque Heritage's success. The teams' agility and insightful analysis of economic factors enabled the swift adoption of a defensive and cautious approach in response to high inflation, stringent monetary policies, and heightened equity market volatility. Furthermore, the recent developments within the Private Banking team and its proven expertise, especially in these extremely challenging times, has paid off, as net new money was slightly positive in both Switzerland and the Uruguayan branch.

Marcos Esteve further emphasized, "Banque Heritage remains dedicated to embracing innovation, nurturing a culture of excellence, and forging enduring relationships with its clients. The company's streamlined exercise has revolutionized its organization, positioning it for sustainable growth and success in the years ahead. By prioritizing long-term, strategic thinking, Banque Heritage is well-equipped to navigate any future challenges and capitalize on new opportunities, even amidst ongoing market uncertainties."

abril 06, 2023

Comunicado de prensa

Press Release on Annual Results 2023


abril 29, 2024

Comunicado de prensa

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.

octubre 25, 2023

Comunicado de prensa

Banque Heritage Appoints Martin Ermini as Branch Manager Basel

Banque 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.

agosto 17, 2023

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