Baloise’s Switzerland business proves robust despite challenging year - Seite 2

 

Baloise has reviewed its ecosystem strategy in respect of the Home and Mobility ecosystems and decided not to invest any further in expanding them. In future, we will concentrate more on insurance-related activities and on generating profits from our current portfolio of innovations.

Banking**

“Thanks to our expertise in pensions, investments and lending, we are able to offer our customers a range of financial advice that sets us apart in the Swiss market,” says Jürg Ritz, CEO of Baloise Bank Ltd. “And everything that we do is focused on benefit to the individual customer.”

• Significant year-on-year profit growth
  Baloise Bank Ltd increased its profit to CHF 31.2 million in 2023 (up by 21.4 per cent on 2022). 
   
• Growth in the volume of business
  Combining insurance and banking services represents a big benefit for customers and resulted in a significant increase of CHF 485.9 million in the volume of business. 
   
• Rising interest rates benefit customers and the banking business
  The end of the period of negative interest rates and the consistent lending policy of Baloise Bank Ltd led to the interest margin on the entire loan book of CHF 7.5 billion increasing substantially in 2023, with very low credit risk costs of CHF 0.2 million. 

Summary of business performance for the Swiss market

Baloise’s business performance in Switzerland
 

Key figures (CHF million)
	2023	2022