Tous Actualités
Suivre
Abonner Bank J. Safra Sarasin AG

Bank J. Safra Sarasin AG

euro adhoc: Bank Sarasin + Cie AG
Annual results 2003 of Bank Sarasin & Co. Ltd (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
2003 closes with solid group profit
Acquisition of Chiswell Associates Limited
Bank Sarasin & Co. Ltd posted a group profit of CHF 70 million in
2003, a significant improvement on the previous year's net loss of
CHF 316 million, which was attributable to a number of exceptional
factors. Operating results also improved markedly, doubling to CHF 64
million. The Board of Directors will propose an increase in the
dividend from CHF 25 to CHF 50 per class B registered share to the
General Meeting of Shareholders on 26 April 2004. Successful cost
management enabled a 6% reduction in operating expenses. Total assets
under management grew by CHF 2.2 billion (+4.7%) year on year, to
stand at CHF 48.6 billion.
Sarasin has entered into an agreement to acquire the asset management
company Chiswell Associates Limited. This acquisition makes Sarasin a
market leader in asset management for charities in the UK. At
end-2003, the assets under Chiswell's management were equivalent to
some CHF 4 billion. The purchase price was GBP 20.9 million.
Please find further information on our homepage www.sarasin.ch
end of announcement        euro adhoc 09.03.2004

Further inquiry note:

Dr. Benedikt Gratzl
Head Corporate Communications
T.: +49(61)277 70 88
benedikt.gratzl@sarasin.ch

Branche: Banking
ISIN: CH0002267737
WKN: 872869
Index: SPI
Börsen: SWX Swiss Exchange / regulated dealing

Plus de actualités: Bank J. Safra Sarasin AG
Plus de actualités: Bank J. Safra Sarasin AG