Publication Notice
Wednesday 3 May 2017

Simplon Bank confirms solid results and invests in people

Annual report 2016

On 27 April 2017, the shareholders general meeting of Simplon Bank Ltd approved the 2016 results and expressed its satisfaction at the outcome.

Last year ended with a consolidated net profit of CHF 7.05 million, a result which was slightly up on the previous year. Alongside a satisfactory profitability level, the significant increase in assets should also be noted, with consolidated Net New Money reaching CHF 298 million. This demonstrates the efficacy of the commercial strategies, which make it possible to look to the future with confidence and optimism, as was demonstrated amongst other things by the good start to 2017. Although revenues were down slightly, due above all to the negative sentiment prevailing within financial markets at the start of 2016, it was possible to maintain it above CHF 36.5 million. The albeit contained increase in costs is attributable to the implementation of new IT programs and infrastructure investments, but above all to the hiring of new highly professional staff, who have stimulated the business and injected enthusiasm, contributing to the improvement of service quality for the benefit of our clients. Balance sheet assets and lending grew significantly, which confirms the commercial vibrancy of the Group, without however compromising its solidity, posting a further improvement of TIER1 to 31.3%.


Full figures for the balance sheet and income statement are contained in the annual report, which will be available at our branches in Lugano, Bellinzona, Chiasso and Locarno, and also electronically on the website. (download pdf)

 

This year will be dedicated to the Campolungo region situated in upper Ticino, a mountainous area boasting a number of absolute rarities on a global level, as testament once again to the attachment and dedication of Simplon Bank to the region in which it has prospered since 1960.

 

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Campolungo