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H1 2023 Financial Results

Ad hoc announcement pursuant to Article 53 of SIX Exchange Regulation Listing Rules

ONE swiss bank SA - H1 2023 financial results (true and fair view)

Highlights and selected financials
Grégoire Pennone

Grégoire Pennone

Chief Executive Officer, ONE swiss bank

“Following the successful completion of our turnaround last year, we’re pleased to share our latest financial achievements with you today. Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first six months of the year increased by a substantial 528%, i.e. by CHF 6.73 million, demonstrating our continued focus on profitability. We’ve also seen a significant increase in net profit to CHF 5.81 million, which was CHF 6.66 million higher than in the same period last year. These positive performance indicators show that our business is well positioned to grow in the current environment.

Back in 2022, we restructured in testing macroeconomic conditions, preventing us from achieving notable organic growth. But it was also a time when we started deploying our growth strategy. During the reviewed period, assets under management rose by CHF 533 million to CHF 5.05 billion in the first half of the year, driven by CHF 456 million in net new money. Additionally, our regulatory capital was strengthened by CHF 5.3 million to stand at CHF 41.1 million, placing us on a firm footing in an ever-evolving banking landscape. Encouragingly, ONE’s share price has appreciated significantly over the last six months, both in absolute terms and relative to the Swiss banking sector.

We have weathered recent crises profitably by managing our treasury assets soundly, resulting in a highly liquid balance sheet. We are confident that our forward-looking and agile approach will enable us to capitalise on the exciting opportunities that lie ahead in the second half of 2023. Our history of acquisitions, always with a view to driving positive change, gives us the expertise and pragmatic management mindset to undertake various categories of transaction, which is quite rare for an institution of our size, while at the same time continuing to grow organically.

Besides that, sustainability remains a key focus and we need to embrace this theme faster and more broadly. We signed up to the UN Principles for Responsible Investment (PRI) in 2022 and will undertake our first reporting exercise in H2 2023. We’re looking to broaden our range of ESG products and services for institutional and private clients, having laid the foundations for our responsible investment strategy over the past six months.

Last month was a momentous occasion as we held several events to celebrate the grand opening of our new headquarters in Geneva. In addition to family and friends, we welcomed distinguished guests including local authorities, including two State Councillors, our valued clients and trusted business partners. The move is an important milestone in our development and was completed in a very short time. We now have the ideal premises in which to continue redefining the shape of tomorrow’s Swiss bank.”

– Media release (download PDF)
– H1 2023 financial statements (download PDF)

All documents are available in the “Investor relations” section of the website.

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