All proposals approved by shareholders

The Banque Cantonale de Genève held its 29th General Meeting.

A steadily growing contribution to the public authorities

The General Meeting allocated the available profit of CHF 170.7 million, with CHF 39.6 million to be distributed among the Bank’s public shareholders and its over 15,000 private and institutional shareholders. The dividend of CHF 5.50, 22% higher than last year’s, was approved by the General Meeting, which also voted, in accordance with its Articles of Association, to give CHF 7.9 million to the Canton as a special allocation to the State of Geneva. That brings the total sum that BCGE donated to the public authorities in 2022 to CHF 72 million (including taxes). Since 2000, the Bank has given nearly CHF 1.9 billion to the public authorities.

Very good results despite a volatile environment

Manuel Leuthold, Chairman of the Board of Directors, stressed that when it comes to banks, quality performance depends upon rigorous risk management. The Bank’s high level of specialisation enabled it to survive the turbulence of recent times unharmed and to seize the opportunities in ever-dynamic market segments. 2022’s strong performance shall benefit all of the Bank’s stakeholders, particularly public and private shareholders.

Maintaining strategic focus

Blaise Goetschin, Chairman of the Executive Board, commented on the record 2022 financial year, which saw net profit rise to CHF 176.0 million and turnover reach CHF 475.7 million, reflecting the Bank’s ability to capture the dynamism of the most buoyant economic sectors. Although this past year’s performance proved excellent, the CEO nevertheless insisted on the importance of maintaining strategic focus; this means continuing to put forth the effort and investment needed to ensure that all services be available to private clients online, a rapid decision-making capacity in corporate finance be maintained, and transparency and performance in the field of private and institutional management remain a reality. 

The 30th Ordinary General Meeting is scheduled for 23 April 2024.