BCGE – The Bank acknowledges the Federal Supreme Court's ruling rejecting constitutional initiative IN 171

Geneva, 28.08.2020 – BCGE welcomes the Federal Supreme Court's rejection of the appeal filed by the initiators against the decision of the Constitutional Chamber to invalidate the cantonal constitutional initiative.

BCGE – The Bank acknowledges the Federal  Supreme Court's ruling rejecting constitutional  initiative IN 171
The Banque Cantonale de Genève acknowledges the decision of the Federal Supreme Court to reject the initiators' appeal against the decision of the Constitutional Chamber. The latter had confirmed the decision of the State Council of Geneva to invalidate the cantonal constitutional initiative 171.

This ruling is excellent news for the Bank's 15,000 public (canton and municipalities), institutional (pension funds) and private shareholders. The same applies to its 230,000 clients, including 20,000 companies, and 833 employees, as well as the rating agencies and financial market analysts.

The Bank also highlights the fact that the recovery plan implemented since 2000 has been very successful. BCGE has created more than CHF 1.4 billion in value since that date, 77% of which has been returned to the public authorities. The Bank has methodically rebuilt itself and is now one of the leaders in the Swiss banking sector.