Creating lasting value for our shareholders

At BCV, we are committed to creating lasting value for our shareholders. In keeping with this mission, our new strategy targets sustainable growth and a moderate risk profile. As a result, our dividend policy is aimed at generating attractive returns for all our shareholders over the long term.

We are targeting an average return on equity of 13-14% and a cost/income ratio of 57-59%. We have also decided to optimize the level of our shareholders’ equity by gradually reducing our FINMA capital adequacy ratio to 145% for the Group as a whole. To achieve this, BCV reduced its share capital in both 2008 and 2009 under resolutions approved by the shareholders at the Annual Shareholders’ Meeting. In 2008, there was a par-value reimbursement of CHF 32.50 per share, which returned CHF 280m to our shareholders. Last year saw a further par-value reimbursement of CHF 10 per share, with CHF 86m returned to our shareholders.

We are committed to building and maintaining close relationships with our shareholders and the investing community as a whole, based on transparent financial communication.