Bank BSU Genossenschaft Achieves Solid Half-Year Result

Bank BSU Genossenschaft is off to a great start in 2023, with a solid half-year result that's got everyone talking. The cooperative bank has reported a significant increase in net interest income.

Despite a challenging economic environment, Bank BSU Genossenschaft has managed to maintain its strong financial position. The bank's total assets have grown steadily, reaching a new high.

The bank's commitment to sustainability is also paying off, with a notable reduction in CO2 emissions and a significant increase in the use of renewable energy sources. This is a great achievement, and it's clear that Bank BSU Genossenschaft is leading the way in responsible banking practices.

Consider reading: Great Western Bank (South Dakota)

At Bank BSU, they offer a range of mortgage options to suit different needs and preferences.

If you're looking for a mortgage with a discount on the official rate, the Eco mortgage might be the way to go. It offers a mortgage rate discount of 0.30% on the official rates published by Bank BSU.

You might enjoy: Thornburg Mortgage

This mortgage is available for new and existing buildings that meet certain energy efficiency and sustainable design standards. You can also use it to extend an existing mortgage.

One of the benefits of the Eco mortgage is that costs for the preparation of the GEAK or Minergie certificate are reimbursed by BSU bank up to a maximum of CHF 1,000 when you submit an invoice.

The mortgage rate is fixed for the entire term, which means you'll have constant, predictable interest costs throughout the term. This can be a big advantage, as it protects you from mortgage rate increases.

Here are some key features of the Eco mortgage:

Bank BSU quickly responded to the COVID-19 pandemic by extending a high number of loans totaling CHF 9.4 million to clients by July 31, 2020.

Many employees worked from home offices, reducing the headcount at local offices by 50%. The internal teams were also split and distributed among different offices for security reasons.

The number of customers visiting branches decreased significantly, but Bank BSU saw a 18% increase in new e-banking contracts in the first half of the year.

The TWINT service, which allows for cashless payments by cell phone, gained immense popularity, with Bank BSU recording up to 10 new registrations per day in the first half of 2020.

Bank BSU Genossenschaft has a solid deposit protection system in place. Bank BSU Genossenschaft participates in the deposit guarantee scheme of Switzerland.

This means that all deposit accounts made by natural persons and legal entities are covered. The scheme covers up to 100,000 EUR (or equivalent in local currency) per bank per depositor.

You can rest assured that your deposits are protected, giving you peace of mind. This is a reassuring feature for anyone opening a deposit account with Bank BSU Genossenschaft.

Bank BSU recorded growth in total assets of CHF 16.8 million or +1.6% in the first half of the year.

Customer loans increased by 1.9% to CHF 914.8 million, while customer deposits increased by CHF 6.5 million.

The bank's gross interest income increased by 2.2% year-on-year to currently CHF 4.9 million, primarily due to falling refinancing costs on the money and capital markets.

Despite declining interest income in the core business, operating income was maintained at the previous year's level at CHF 1.24 million.

Explore further: Realty Income

Bank BSU has recorded a solid half-year result, with total assets growing by CHF 16.8 million or +1.6% in the first half of the year.

Customer loans increased by 1.9% to CHF 914.8 million, showing a steady growth in the bank's lending business.

Customer deposits increased by CHF 6.5 million in the first half of the year, indicating a stable influx of funds into the bank.

Gross interest income increased by 2.2% year-on-year to currently CHF 4.9 million, despite the persistently low interest rate environment.

The commission business saw a significant improvement, with income from securities and investment business rising by 28.4% compared to the previous year.

This increase was largely driven by the increased volatility on the financial markets, leading to a higher number of securities transactions.

The bank was able to optimize and reduce commission expenses by 23.2%, which contributed to the overall improvement in the commission business.

The position "other ordinary income" was increased by +33.5% and thus by CHF 0.205 million to CHF 0.817 million, primarily due to the sale of part of the financial assets and the realization of price gains.

Personnel expenses remained unchanged from the previous year at CHF 2.4 million, indicating that the bank has managed to keep its staffing costs stable.

Operating income was maintained at the previous year's level at CHF 1.24 million, despite declining interest income in the core business.

The bank's eligible equity shows a value of CHF 83.1 million, which corresponds to a weighted equity ratio of 18.0%, exceeding the regulatory requirements by a factor of 1.7.

A fresh viewpoint: Renta 4 Banco

Bank operations can be complex, but understanding the basics is key to making informed decisions about your finances.

Bank BSU Genossenschaft offers their savings products in Switzerland. They have a strong presence in the country, making it easy for locals to take advantage of their services.

Cooperatives like Bank BSU Genossenschaft often focus on serving their local communities. This can be a great benefit for customers who want to support local businesses and initiatives.

Bank BSU Genossenschaft's operations in Switzerland are a prime example of this approach.

Bank BSU Genossenschaft offers a range of products in CHF, including 9 deposits and 0 savings accounts.

Their deposit options are quite limited, but the ones they do offer are worth considering. They have 9 different deposit options in total.

One of the deposit options is a 24 months deposit, which comes with an interest rate of 0.7%. This is a decent rate, especially if you can lock your money away for a couple of years.

Another deposit option is a 36 months deposit, which has an interest rate of 0.6%. This is slightly lower than the 24 months deposit, but still a reasonable rate.

It's worth noting that these rates are subject to change, so it's always a good idea to check the current rates before making a decision.

You can save in a BSU account until you're 33 years old. This means you have a long time to grow your savings before you need to think about other options.

There's no lower age limit for setting up a BSU account, which is great news for young people who want to start saving early.

You can only claim tax deductions after you start receiving an income, so make sure you have a job lined up before you start saving in a BSU account.

It's also worth noting that you shouldn't open a BSU account if you're under 17 and don't receive a taxable employment income, as you won't be able to claim tax deductions.

Discover more: Captive Insurance Company Tax Benefits

Bank BSU has been making headlines lately, and I'm here to give you the lowdown. The Bank BSU was launched in 2010, making it a relatively new player in the banking industry.

One of the most significant updates about Bank BSU is that it has expanded its services to include mobile banking. This means customers can now manage their accounts, pay bills, and transfer funds from the comfort of their own homes.

Bank BSU has also introduced a range of new products and services, including a credit card that offers rewards and cashback. This is a great option for customers who want to earn rewards on their everyday purchases.

The Bank BSU has a strong presence in the online banking space, with a user-friendly website and mobile app. This makes it easy for customers to access their accounts and conduct transactions on the go.

Bank BSU has a wide range of branches across the country, making it easily accessible to customers. This is especially useful for those who prefer to conduct their banking in person.

Worth a look: PNC Financial Services