BCV at a glance
Key figures (in CHF millions)
| 2009 | 2008 | Change as % | |
|---|---|---|---|
| 1) Excluding goodwill amortization and write-downs. | |||
| Total assets | 35 733 | 35 239 | 1% |
| Total income | 976 | 928 | 5% |
| Operating profit | 470 | 423 | 11% |
| Net profit | 301 | 358 | – 16% |
| Assets under management | 76 209 | 66 766 | 14% |
| Ratios | |||
| Cost / income ratio 1 | 60% | 63% | |
| ROE | 9.5% | 11.2% | |
| BIS capital adequacy ratios | |||
| Tier 1 capital ratio | 17.8% | 16.4% | |
| Total capital ratio | 17.8% | 16.2% | |
2009 highlights
BCV turned in a very solid performance despite the challenging economic environment:
- Business volumes were sharply up.
- Operating profit climbed 11% to CHF 470m.
- The need for new provisions was moderate, confirming the quality of our loan book.
- At over CHF 300m, net profit remained strong.
We began to implement our new strategy, BCVPlus:
- We changed our organization and appointed three new members to our Executive Board.
- We significantly reduced proprietary risk-taking in trading activities, in part by withdrawing from equity-derivative trading.
- We launched a series of multi-year strategic initiatives aimed at streamlining our operations, enhancing efficiency and improving the quality of our customer service.