The «Ersparniskasse Affoltern i.E.» is one of the smaller financial institutions in the region. Rooted in the local community since 1873, it strives to balance tradition with innovation. The bank primarily focuses on savings and mortgage services.

This focus is evident in the latest half-year results. Loans (including mortgages) increased by 3.83 percent in the first six months of 2024, reaching 302 million Swiss francs compared to the end of 2023. Customer deposits grew by 2.39 percent over the same period, bringing the total to 291 million Swiss francs. Notably, 96.22 percent of the loans are financed through customer deposits.

As of the end of June 2024, the bank’s equity stood at 48 million Swiss francs, reflecting an equity ratio of 12.90 percent. Overall, the balance sheet increased by 2.52 percent, reaching a new total of 374 million Swiss francs.

Cost Reductions

Gross income from interest operations amounted to 2.24 million Swiss francs, up 5.04 percent from the previous year. However, net income saw a slight decline, dropping from 2.126 million Swiss francs to 2.109 million Swiss francs. The interest margin stands at 1.20 percent.

Operating expenses decreased by 0.68 percent, totaling 1.30 million Swiss francs. This resulted in a half-year profit of 380,000 Swiss francs, marking a 4.23 percent increase compared to the first half of 2023.

Outlook: Cautiously Optimistic

For the second half of the year, Ersparniskasse Affoltern i.E. anticipates more moderate growth. However, the bank does not expect significant setbacks in its business operations.