PRESS RELEASE (N° 105)

Bondpartners : Higher individual net profit and increasing dividend will be proposed to the shareholders

The year under review was characterized by an amplification of turnover and an improvement of most revenues, as well as by a recovery of own-account securities portfolios. Regarding individual accounts, the return of a majority of a subsidiary’s assets based in Gibraltar released an investment income which will strengthen provisions. In respect of consolidation, the said income is eliminated, bringing the net profit on negative ground, while shareholders’ equity increased.

The parent company, which celebrated its 40 years, posts a higher net profit at CHF 2.6 million (+41%) and the Group records a CHF 4.7 million loss (vs +2.2 million in 2011). An ordinary 25% dividend, increased by 10% to mark the jubilee, for a total of 35% will be proposed to the shareholders.

The statutory balance sheet total has grown 2% to CHF 136.9 million, mainly due to the increase of own-account securities portfolios. The balance sheet is composed by 93% of current assets, namely cash and due from banks (CHF 62.2 million), due from customers (CHF 6 million) and trading portfolios (CHF 59.2 million). Total liabilities nearly amount to CHF 51.6 million (-13%). With regard to individual shareholders’ equity, its total comes to CHF 54.3 million (+3%). As for valuation adjustments and provisions, they were up 42% to CHF 29.5 million due to a new creation charged to the income statement (in relation to the aforesaid investment income).

On a consolidated basis, current assets reach CHF 123.4 million and total liabilities CHF 48.6 million. As far as Group’s equity is concerned, it comes in at CHF 75.4 million (+4.5%). Reserves and provisions for own shares (CHF 4.3m) and for deferred taxes (CHF 6.3m) were duly deducted. In this regard, the reserves for general banking risks rose 30% to CHF 34.2 million, while profit reserves posted CHF 40.3 million (+5.5%). The capital adequacy of basic individual shareholders’ equity (Tier 1) and that of additional equity (Tier 1+2) respectively reach 24% and 39%.

In terms of profit and loss accounts, global gross income from interest differential business posts CHF 2.4 million (+5%) and income from commission business comes to CHF 1.4 million (-25%). Individual income on securities transactions (dealing and financial investments) as well as valuation of own-account equities strongly progressed, on one hand thanks to the exceptional dividend paid by Bondpartners Gibraltar (CHF 7.9m) and, on the other hand, thanks to trading activities and to the recovery of financial markets (CHF 8m). Consolidated operating expenses remained under control at CHF 6.5 million (+3%).

Although 2013 generally began under favourable conditions, the upturn which started last summer having continued, there are still many uncertainties and the situation is extremely fragile, especially in the context of the crisis in the euro area which recently shakes again markets.

Nota Bene: for detailed version and figures, please refer to French text (cf “Communiqué de presse No 105” also published in this website).

Note to the Edit : This press release is broadcast on 28.03.13, outside of The Swiss Bourse’s office hours, in order to comply with the ad hoc publicity principles of the listing Rules. In addition, it has been sent one working day prior to SIX Swiss Exchange.