REYL Intesa Sanpaolo announces a 53% increase in net profit for 2023. In a complex yet buoyant environment, the Group has been able to stand out and make major strategic advances.

REYL Intesa Sanpaolo's results show a 15% increase in operating income to CHF 130.4 million, boosted by a sharp rise in net interest income, and stable operating expenses at CHF 111.4 million (-1%). The cost/income ratio thus improved to 85% (compared with 98% in 2022).

REYL Intesa Sanpaolo's operating profit was CHF 9.9 million (compared with a loss of CHF 16.7 million in 2022), the result of restructuring efforts undertaken as part of the Bank's integration into Fideuram ISPB and the absorption of the subsidiary Intesa Sanpaolo Private Bank (Switzerland) Morval in 2022. Net profit also rose strongly to CHF 8.5 million (+53%), while the Tier 1 ratio improved slightly to 18.5%. As part of a deliberate refocusing of the Wealth Management business aimed at better identifying target markets and clients, the Group saw its assets under administration contract by 22% to CHF 30.4 billion.