Acrevis Bank achieved an operating profit of 31,4 million francs in 2024. This represents a decrease of 1,5 million francs or 4,5 percent compared to the previous year, according to a statement released on Friday.

Net profit also fell short of last year’s figures, amounting to 22.6 million francs. This marks a decline of 1 million francs or 4,4 percent.

Interest Rate Reversal Thwarts Plans

In 2023, the regional bank closed the year with record results.

The decline is primarily attributable to the interest rate reversal. Net interest income decreased by 8,8 percent or 5,0 million francs to 51.0 million francs, after rising by 29 percent in the record year of 2023.

Increase in Managed Assets

However, all other core business areas performed better. There was an increase of 10.4 percent in custody assets (+554 million to 5,9 billion francs), a growth of 6,6 percent in «Assets under Management» (+604 million to 9,8 billion francs), a rise of 3,4 percent in net customer loans (+135 million to 4,1 billion francs), an increase of 4,4 percent in mortgage receivables (+165 million to 3,9 billion francs), and a 1,5 percent uptick in customer deposits (+56 million to 3,7 billion francs). Commission income from securities trading rose by 12 percent (+2,7 million to 25,4 million francs).

Only Slightly Higher Personnel Expenses

Acrevis Bank has its costs under control. Operating expenses remained constant in 2024 at 53,5 million francs. Personnel expenses increased by 0,9 percent or 0,3 million to 28,2 million francs. Meanwhile, material expenses were 1,0 percent or 0,3 million lower than the previous year, amounting to 25,4 million francs.