BBVA in Switzerland annual report: 2019

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BBVA in Switzerland / 8 May, 2020
BBVA in Switzerland annual report: 2019


We are proud to present a solid performance for BBVA in Switzerland during 2019, delivering solid growth rates on client assets and revenues

BBVA in Switzerland (thereafter BBVA SA or the Bank) closed a successful 2019, a year in which we grew and continued to transform ourselves in order to meet clients' needs and ensure we stay relevant to them in the future with a compiling value proposition for managing their wealth. As we look ahead, our client-centric business model, combined with strong investment advisory capabilities and disciplined cost management, will be key for achieving sustainable growth.

Financial results

Our business model proved that we were able to attract new long-term client inflows and new relationships to the Bank. We achieved strong results and profitable growth, total assets under management reached CHF 5,064 million vs CHF 4,678 million at the end of 2018. The net new money growth rate was 4.74%, and financial markets contributed positively to the total assets under management. Gross margin amounted to CHF 47.50 million vs CHF 44.33 million in 2018, and net income stood at CHF 7.70 million, thus exceeding the previous year's figure by 68%. Our balance sheet remained strong, highly liquid and conservatively invested with a CET1 ratio of 51.24% compared to 44.79% at the end of 2018. Competition in the International Private Banking sector remains high. Nevertheless, the results reflect that the strategy we are following proves to be competitive in the market, and most importantly, is well received among our client base.   Please find the complete report here: BBVA Switzerland_Annual Report_2019_Final

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