n the first half of 2024, Banque Heritage achieved a profit of 9,2 million Swiss francs, representing an increase of 32 percent compared to the same period last year, as the institution announced on Friday. This was attributed mainly to the favorable interest rate environment as well as the performance of customer portfolios.

Operating income amounted to 39,2 million Swiss francs, corresponding to a 9 percent increase compared to the previous year.

Holding Company Established

The assets under management also developed favorably in the first semester of 2024. The Geneva-based bank recorded net inflows of 229 million Swiss francs, mainly from activities in Switzerland. As a result, the group's assets under management amounted to 4,6 billion Swiss francs at the end of June, compared to 4,06 billion Swiss francs at the end of 2023.

Additionally, the bank established the Heritage Holding, as further disclosed. This is a parent company that consolidates the various investments and activities of the group. This initiative aims to support potential acquisitions by the bank and optimize its regulatory capital.