Swiss cantonal bank Banque Cantonale Vaudoise (BCV) has posted an operating profit of CHF260m for the first half of 2015, a 9% increase compared to the same period last year.
Revenues increased 3% to CHF519m driven primarily by excellent trading performance and interest income fell by 3% to CHF246m.
Operating expenses for the first half of 2015 were down 2% to CHF258m. Net profit increased 17% to CHF179m.
The bank said that its personnel costs fell 1% to CHF170m, and other operating expenses were down 4% to CHF88m.
BCV said fee and commission income for the period was down 2% to CHF171m.
Group assets under management (AuM) were flat at CHF86.4bn.Net new money for the period amounted to CHF1.9bn. Total assets rose 3% to CHF43.4bn for the first half of 2015.