Bank WIR Grows at all Levels
Bank WIR grew in all business areas last year and achieved a record profit.
Bank WIR generated a prifit of 17.5 million Swiss francs in 2024. This represents an increase of 9.1 percent compared to the previous year, as detailed in a press release on Friday.
Total assets rose by 6.3 percent to over 6.6 billion francs. This represents a new record in the more than 90-year history of the Swiss cooperative bank, according to the statement.
«In particular, the solid growth in equity, the increased profit and the very good operating performance underline the strength of the bank and form a sustainably solid basis for the future,» commented CEO Bruno Stiegeler on the annual result.
Net interest income rose significantly and also reached a record level. Gross income grew by 6.6 percent and net income by 11.9 percent to 76.8 million francs.
Pension Savings Better than Planned
Commission income developed positively, although demand for the complementary currency WIR declined again due to the persistently low interest rates, the report continues. VIAC, which specializes in pension savings, put in a strong performance, far exceeding the budgeted targets.
VIAC Invest's offering was expanded to include free securities savings. As at the end of January 2025, the number of customers amounted to around 118,000 and the investment volume was just under 4.7 billion francs. «The success of this innovative platform has had a lasting impact on Bank WIR's earnings,» says Stiegeler.
Slightly Higher Dividend
Operating expenses rose by 3.8 percent to 67.5 million francs. The dividend is set to rise by 2.3 percent to 11 francs per share.
Eligible equity grew by 8.8 percent to 627.4 million francs by the end of 2024. The unweighted equity ratio (leverage ratio) is 9.1 percent and the total capital ratio is 16.6 percent.
