HSBC Guyerzeller Bank AG

HSBC Guyerzeller Bank posts strong results for 2006

    Zurich (ots) - HSBC Guyerzeller Bank AG, a Swiss private bank with offices in Zurich, Geneva, Istanbul and Hong Kong, has produced record figures for 2006. Gross earnings were up by almost a third at CHF 82.2 million, and net profit reached a record CHF 72.8 million. The bank remains confident for 2007.

    HSBC Guyerzeller Bank recorded excellent results for 2006, following an already good year in 2005. Gross earnings increased by 31.1 per cent to CHF 82.2 million and net profit was up 13.5 per cent to CHF 72.8 million. All business units contributed to this outstanding financial result.

    Net new money coming into the bank stood at CHF 908.1 million. This growth was once again due in large part to the strengthening of our investment advisory services.

    As well as the increase in the value of customer portfolios, assets under management went up 9.3 per cent from CHF 24.7 billion to CHF 27.0 billion. Income from portfolio management rose by 12.5 per cent.

    The cost/income ratio fell two percentage points from 64.2 per cent to 62.1 per cent. Total operating expenses rose by only 1.0 per cent. Our efforts to increase productivity with a slightly smaller headcount and the separation of the trust operations helped to keep total operating costs stable.

    In July 2006, HSBC Guyerzeller and HSBC Private Bank merged their trust operations into a new company. The new HSBC Guyerzeller Trust Company AG is directly owned by HSBC Private Banking Holdings (Suisse) SA and its aim is to be the leader within the Swiss market.

    HSBC Guyerzeller Bank remains confident that the global economy will register healthy growth in 2007 and that the equity market remains positive. The bank's investment strategy remains growth-oriented and focused on equities.

    1. HSBC Guyerzeller Bank AG

    HSBC Guyerzeller Bank AG is a Swiss private bank that specialises in asset management for wealthy, sophisticated clients. The bank was founded in 1894 and today employs around 341 people in the financial centres of Zurich, Geneva, Istanbul and Hong Kong.

    2. The HSBC Group

    HSBC Holdings plc serves over 125 million customers worldwide through around 10,000 offices in 82 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$1,861 billion at 31 December 2006, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

ots Originaltext: HSBC Guyerzeller Bank SA

Dr. Heinrich Baumann, CEO
Tel.: +41/58/206'73'99

Dr. Martin Jetzer, Chief Investment Officer
Tel.: +41/58/206'72'47

Nicolas de Buman
Press Spokesperson
Tel.: +41/58/206'77'42

HSBC Guyerzeller Bank AG, Zurich

Weitere Meldungen: HSBC Guyerzeller Bank AG

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