Swiss cantonal bank Banque Cantonale Vaudoise (BCV) has posted an operating profit of CHF131m for the first quarter of 2015, up 11% or CHF13m compared to the year ago quarter.
Revenues increased 5% to CHF260m. The top – line growth primarily reflected a 60 % increase in trading income to CHF42m, the bank said in its earnings statement.
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Total assets were up 1 % to CHF42.7bn. The group’s assets under management increased by 2 % or CHF1.7bn to CHF88.1bn. Net new money amounted to CHF2.2bn for the period.
The bank’s total operating expenses declined 1% to CHF1 29 m. Personnel costs came in at CHF85m, down 1%, while other operating expenses were CHF44m, down 2%.
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