Client assets under management rose by 2% or CHF 840 million, and now stand at CHF 39.4 billion.
The credit portfolio amounted to a total value of CHF 5.5 billion, highlighting the fact that Banca del Gottardo – in addition to its main investment advisory and asset management activities – also occupies a significant position in the commercial and lending business in Ticino.
As well as continuing to implement measures aimed at improving efficiency, particularly at parent company level, the bank also further expanded its presence in Switzerland and abroad. In May, the bank took over the entire share capital of the French asset management company Oudart SA, Paris. Alongside the existing Banca del Gottardo Italia units located in Bergamo, Milan and Turin, branches in Rome and Treviso will start operations later this year with a view to further strengthening the affiliate’s business activities.
Now that Banca del Gottardo will definitely continue to be part of the Swiss Life Group and given the improved outlook for the Swiss economy, the Executive Board is confident that the bank will be able to achieve its 2004 financial goals.