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Coop Bank registers good first half profits

Coop Bank headquarters, Basle Keystone

Switzerland's Coop Bank has posted healthy figures for the first six months of the year - gross profit climbed 20 per cent compared to the same period last year.

The bank’s total business actually slipped back by 2.6 per cent to SFr9.2 billion. But home loans made over the period increased by SFr150.2 million.

The bank is forecasting continued gains for the remainder of the year.

The Coop Bank was bought in February by the Basle City Cantonal Bank, which now controls 40.7 per cent of the Coop Bank’s capital and has 51 per cent of the voting rights.

The first set of results for the consolidated BCBS group is expected shortly.

swissinfo with agencies

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR