Read our annual report and the company profile for the past financial year. The course of business for the first semester is published in August.
Annual Report 2022
With consolidated profit coming in at CHF 1.059 billion, we achieved strong annual results again in 2022. The appropriation of profit includes a dividend of CHF 491 million. Of this, CHF 331 million will go to the canton and around CHF 11 million will be used to cover the cost of capital for providing the endowment capital. Around CHF 160 million will go to the municipalities.
Zürcher Kantonalbank built on the successful previous year in the first half of 2023. The bank once again increased most income components year-on-year. This can be seen, despite slightly higher costs, in the consolidated profit of CHF 677 million (previous year: CHF 541 million).
The net result from interest operations amounts to a considerable CHF 946 million. This is a 45.5 percent increase on the comparable period in the previous year (CHF 650 million). The result from commission business and services totals CHF 475 million and therefore matches the previous year’s level. The result from trading activities also developed positively at CHF 252 million (plus 19.6 percent). Overall, operating income therefore increased by 25.5 percent to CHF 1,687 million. Operating expenses of CHF 818 million were up by CHF 53 million or 6.9 percent compared with the previous year.
After taking into account the other profit components, such as value adjustments on participations, depreciation and amortisation of tangible fixed assets and intangible assets, changes to provisions and other value adjustments, as well as losses and changes in reserves for general banking risks, the consolidated profit was 25.2 percent or CHF 136 million higher compared with the prior-year period.
This positive trend is also reflected in the key figures. Return on equity (RoE), for example, stands at 10.4 percent (first half of 2022: 8.7 percent), and the cost-income ratio (CIR) is 48.7 percent versus 56.4 percent in the comparable period.