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Abonner Cornèr Banca SA

Cornèr Banca SA

The Cornèr Bank Group diversifies its activities and reports results in line with expectations

Un document

Lugano (ots)

- Indication: The Key Figures of the Cornèr Bank Group can be     
   downloaded free of charge under:                                  
   http://www.presseportal.ch/de/pm/100019252/?langid=2 -
The 58th business year of the Cornèr Bank Group, with registered 
offices and headquarters in Lugano, closed on December 31st, 2009 
with a drop in net profits due to the general market situation and 
the absence of those extraordinary factors that produced  a positive 
contribution to the 2008 results. Net profit was down, from 89.6 to 
73.4 million francs, thus returning to the levels of previous years.
Despite the continuation of the uncertain situation on the 
financial markets, the Group's private and business clientele 
continued to show confidence in the Cornèr Bank Group. Customer 
deposits totalled 3,550 million francs, with a rise of 6.8% over 
2008. Loans granted to customers also rose by 6.6% to 2,339 million 
francs, which was also positive. In this sector, Switzerland remains 
the Group's main reference market. The Group's cautious policy 
allowed the bank to invest a considerable part of its substantial 
liquid assets in government bonds and securities issued by high 
quality debtors.
The impact of the third Italian tax amnesty (so-called "scudo 
fiscale") measure was limited.  Use of the legal capital repatriation
procedure by our Italian clientele allowed us to retain an important 
mass of capital.  The contribution of the Swiss domestic market and 
international markets, towards which the Cornèr Bank Group has been 
focussing its activity for some time now, proved to be significant. 
The influx of new funds practically counterbalanced the outflow of 
Italian capital, thus confirming the validity of the Cornèr Bank 
Group's policy of diversifying its products, services, customer base 
and markets.
Cornèrcard, Cornèr Bank Group's payment card division which 
represents another important part of the bank's diversified business 
strategy, further extended its presence on the domestic market and, 
starting from this year, on the international market too. Excellent 
results were achieved through new product offerings, especially in 
the area of prepaid cards.
The balance sheet total remained unchanged at 4,814 million 
francs. The Group is also strongly over-capitalized, with equity 
capital increasing to 767.9 million francs, which is equal to three 
times the amount required by law.
The bank's staff remains stable with 770 employees (771 in 2008), 
including 35 staff members employed by the foreign affiliated 
companies.

Contact:

Anna Russo
PR Manager
Tel.: +41/91/800'53'54
Fax: +41/91/800'43'03
E-Mail: anna.russo@corner.ch