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HSBC Guyerzeller Bank AG

HSBC Guyerzeller Bank AG - Results 2005

Zurich (ots)

HSBC GUYERZELLER - 2005 RESULTS
2005 proved to be one of the best years on record.
Gross profits increased by 40% to CHF 62.7m, net income after taxes
by 14% to CHF 64.2m. All key variables contributed to an outstanding
result:
1. We attracted more than CHF 2bn in new money to be managed, a
large increase from the previous year. Inflows came from all regions
of the world where we are active, i.e. from Switzerland, the rest of
Europe, Asia and Latin America. Growth in net money inflows can be
attributed to numerous recruitments made over the course of the year
to reinforce our front teams and to the greater efforts undertaken to
market our services globally.
2. Client portfolios' outstanding performance also contributed to
assets under management ending the year at CHF 24.7bn compared with
CHF 19.6 bn at the end of 2004, a 26.1% increase. Client performances
exceeded the respective reference indexes in all categories. For
example, those for whom we have a mandate to manage a globally
balanced portfolio benefited from an average performance of around
15%, a result that was achieved without taking inordinate market
risks (equity allocation averaged slightly over 50%).
3. We market services, not products. However, our thematic equity
baskets (e.g. the "HGZB Water Basket", the "HGZB Energy Basket" or
the "HGZB EU Enlargement Basket") that we formed exclusively for our
clients performed spectacularly well, attracting quite some attention
in the marketplace and helping us in our marketing efforts.
4. HSBC Guyerzeller's successful investment strategy also resulted
in an unexpectedly high return of the bank's financial portfolio
which once again contributed significantly to net income.
5. The consolidated cost/income ratio according to management
accounts declined five percentage points from 67% to 62%. Operating
costs increased only 8.6% whereas operating income rose 17%. New
productivity tools and a modest increase in head count helped keep
costs under control.
HSBC Guyerzeller Bank AG
HSBC Guyerzeller Bank AG is a Swiss private bank that concentrates
on wealth management services to the top client segment. Its origins
date back to 1894, and today it employs around 370 staff in the
financial centres of Zurich, Geneva, Lugano, Istanbul and Hong Kong.
HSBC Group
HSBC Holdings plc is headquartered in the UK. The HSBC Group
serves over 110 million customers worldwide from more than 9,800
offices in 77 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa. With assets of US$
1,502 billion at 31 December 2005, HSBC is one of the world's largest
banking and financial services organisations. HSBC is marketed
worldwide as 'the world's local bank'.

Contact:

Ilan Hayim
Tel: +41/58/206'78'97
HSBC Guyerzeller Bank SA, Geneva

or
Dr Heinrich Baumann
Tel: +41/58/206'73'99
or Dr Martin Jetzer
Tel: +41/58/206'72'47
HSBC Guyerzeller Bank AG, Zurich