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Solothurn, August 26, 2021. Baloise Bank SoBa enjoyed a successful operating performance in the first half of 2021. Custody business grew strongly, in line with strategic targets, thanks to an increase in the number of asset management mandates. Jürg Ritz, CEO of Baloise Bank, expressed his satisfaction: “Our combined bank and insurance business model is bearing fruit.”
Financial results for the first half of 2020 in brief
  • Profit for the first six months up by 48.1 per cent year on year at CHF 13.1 million
  • Consistent financial performance of interest margin business based on growth of lending and more favourable refinancing terms; gross interest income up by 0.8 per cent
  • Clear acceleration of growth in the private banking business, in terms of both the deposit volume and the number of new asset management mandates
  • New product offers as part of the national sales expansion  
Strengthening of tailored customer advice gives private banking a boost

Gross interest income increased by a modest 0.8 per cent year on year. But although there were no significant defaults, net interest income was down slightly year on year (by 1.2 per cent) due to impairment losses on not-at-risk receivables. The stabilisation in this segment is attributable to healthy growth in the credit business and favourable refinancing terms.

The bank’s strategy of providing banking and insurance services under one roof, which is unique in Switzerland, once again resulted in healthy growth of asset management and investment advice mandates (up by 17.4 per cent in the first half of the year). “By collaborating with the insurance business, we can offer our customers tailored pension and asset management solutions and comprehensive advice on all financial matters. This is what makes us stand out,” adds Jürg Ritz. The profit for the period went up by 48.1 per cent year on year. The uplift in profit before taxes came to CHF 1.2 million (11.2 per cent) even after adjustment for one-off investments in the business model in the prior-year period.
Country-wide expansion also reflected in new product offers

The national expansion of sales under the Simply Safe strategy is progressing apace. The next step in this country-wide expansion plan involves the launch of new products in the fourth quarter. These new products will complement the national expansion and offer customers the possibility to make unlimited cash withdrawals free of charge from all cash machines across Switzerland. In addition, customers will enjoy comprehensive insurance protection against cyber crime when using their complementary Visa debit card – a protection that is particularly relevant in light of the growing importance of e-commerce. “This is yet another way in which our customers benefit from our provision of banking and insurance services from a single source,” concludes Jürg Ritz.
Download Half-Year Results 2021 Baloise Bank SoBa (Local GAAP) DE pdf - 491 KB
Read more Baloise Mobile Banking (DE) cash@home (DE)
Download Half-Year Results 2021 Baloise Bank SoBa (Local GAAP) DE pdf - 491 KB
Read more Baloise Mobile Banking (DE) cash@home (DE)
About Helvetia Baloise Helvetia Baloise is Switzerland’s largest multi-line insurer and one of Europe’s leading insurance groups. Every day, more than 22,000 employees work hard to support around 13 million customers with insurance, pension, and financial solutions. These customers range from individuals and small to medium-sized enterprises (SMEs) through to international customer groups, which also benefit from areas such as specialty insurance and reinsurance. Headquartered in Basel, Switzerland, Helvetia Baloise operates in eight European markets and in global specialty markets, combining its strong Swiss roots with a clear international focus. Helvetia Baloise creates safety and security and opens up opportunities, both today and in the future. Through profitable growth and business operations that are geared to long-term stability, we create tailored solutions for our customers, provide an attractive and reliable investment for our shareholders, promote strong partnerships and offer rewarding career prospects for our employees. Helvetia Baloise Holding Ltd shares (HBAN) are listed on the SIX Swiss Exchange.
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