Half-Year-Results 2023
Half-Year Results 2023
DownloadBENDURA BANK AG with significantly higher half-year result
Gamprin-Bendern, 31. August 2023. BENDURA BANK AG reports a profit of over CHF 7.0 million for the first half of 2023, compared to CHF 2.3 million in the same period last year. Gross operating income grew by a remarkable 42% or CHF 8.2 million to CHF 28.1 million. In the same period, total business expenses increased by 15% from CHF 15.4 million to CHF 17.7 million. As a result, the cost/income ratio (CIR) fell from 78% since 30.06.2022 to 63% at mid-year 2023.
One of the main drivers of this extraordinarily good result is undoubtedly the interest business, since after a long period of low interest rates in the two most important balance sheet currencies for the bank, USD and EUR, are now at record levels. Net interest income increased by CHF 10.0 million or 162% compared to the same period of the previous year.
As a result of cautious client behaviour in the first half of the year, income from commission and service fee activities fell by 6% to CHF 9.5 million (previous year’s period CHF 10.2 million) and income from financial transactions was CHF 1.9 million, around CHF 1.2 million below the previous year’s figure.
Total business expenses, consisting of personnel and operating expenses, amounted to CHF 17.7 million in the reporting period and were thus 15% higher than in the same period of the previous year. Both personnel and operating expenses increased in the first half of 2023 compared to the previous period.
Total assets amounted to CHF 1,224.2 million, CHF 166.0 million lower than in June 2022 and CHF 87.1 million lower than in December 2022. Thanks to a positive net new money inflow in the first six months of 2023, total client assets amounted to approximately CHF 3.6 billion at the end of June 2023.
The regulatory ratios continue to be very solid. Due to the high level of liquid funds, the liquidity coverage ratio of 161% as at the balance sheet date was significantly above the regulatory threshold. In addition, BENDURA BANK AG had a tier 1 capital ratio of around 19.5% as well as a leverage ratio of 8.3% as at mid-year 2023 and thus continues to be at an above-average level for the banking sector.
25th anniversary year – a year with many projects & plans
The 2023 half-year result is fully in line with the targets set. The resources allow us to tackle a number of projects. “We are currently working intensively on the “Horizon 2030” strategy process. In addition, we will expand our market presence in Hong Kong as well as establish the “BENDURA Competence Centre Vienna”, explains CEO Dr Markus Federspiel and adds: “Relationship work and trust with our customers are always our top priority. This is also reflected in part of our BENDURA philosophy. Our multicultural approach, according to which the languages of all our core markets are covered by native speakers in customer advisory services, but also in subsequent departments, sets us apart from the broad crowd and is the central basis for our success. In addition, there is an attractive employee participation model that has closely tied the core team to the company for many years and conveys corresponding continuity and sustainable trust to all stakeholders. In addition, we put great value to the professional know-how and further training of our employees.”
BENDURA BANK AG in a nutshell
BENDURA BANK AG, founded in 1998, is a fully licensed bank headquartered in Gamprin-Bendern in the Principality of Liechtenstein. As a financial services enterprise, we offer affluent entrepreneurial families and wealthy private customers custom-made financial services, including asset management, investment advisory services and the issuance of securities, along with the initiation and administration of investment funds. Our independence, professionalism and outstanding language skills are the foundation of our success.
Your contact person
Dr. Markus FEDERSPIEL, Mag.
CEO
Sprachen: German,English,Italian
Mag. rer.soc.oec. and Dr. phil. from the University of Innsbruck with studies abroad in Great Britain and Russia. Since successfully completing his doctorate in economic policy in 2008, he has been working for BENDURA BANK AG. Initially as Head Private Banking Italy and from 2013 as Head Institutional Clients. Appointed to the Executive Board in 2019 and appointed Chief Customer Officer (CCO). In October 2022, Markus Federspiel was appointed Chief Executive Officer (CEO). In this role, he is responsible for overall bank management as well as the Market and Sales divisions. At the same time, Markus Federspiel heads the leading front teams as well as the Human Resources, Marketing and Office Management departments. Markus Federspiel has been a guest lecturer at the Leopold Franzens University in Innsbruck (Austria) for many years and is also a member of the expert commission at the University of Liechtenstein. In addition, he represents BENDURA BANK AG in numerous international networks such as BAFIT, ITC and IPG International.