February 27, 2020 / 5:45 AM / a month ago

BRIEF-Raiffeisen Switzerland Says FY Group Profit Up 54.4% To 835.2 Mln Sfr

Feb 27 (Reuters) - Raiffeisen Schweiz Genossenschaft :

* RAIFFEISEN CLOSES FINANCIAL YEAR SUCCESSFULLY – STRONG CUSTOMER CONFIDENCE, HIGH EARNINGS

* RAIFFEISEN GROUP GENERATED EARNINGS OF CHF 835 MILLION IN 2019

* CLIENT DEPOSITS INCREASED BY CHF 10.5 BILLION TO CHF 176 BILLION – WITH SIGNIFICANT MARKET SHARE EXPANSION

* HEALTHY 3.2% GROWTH OF MORTGAGE LOANS – IN LINE WITH GROWTH AMBITIONS

* NET INTEREST INCOME INCREASED BY CHF 37.3 MILLION, DESPITE TENSE MARGIN SITUATION

* COMMISSION AND SERVICES BUSINESS INCREASED BY CHF 13.8 MILLION

* COST–INCOME RATIO IMPROVED TO 61.3% FROM 64.9%, DUE TO REDUCED EXPENSES

* MORTGAGE LOANS GREW BY 3.2% TO CHF 185.3 BILLION

* FOR THE CURRENT YEAR, RAIFFEISEN IS ANTICIPATING A STABLE COURSE OF BUSINESS IN WHAT CONTINUES TO BE A DEMANDING ENVIRONMENT

* IN THE CURRENT INTEREST LANDSCAPE, RAIFFEISEN ANTICIPATES LITTLE MOVEMENT ON THE BASIS OF MODERATE GLOBAL ECONOMIC DEVELOPMENT, COUPLED WITH PERSISTENTLY LOW INFLATION; INTEREST RATES SHOULD REMAIN LOW Source text for Eikon: [tinyurl.com/r2bptfy] Further company coverage: (Berlin Speed Desk)

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