TradeXBank News

• Net income of CHF 4.5m compared to CHF 0.6m in the first half 2023.
• Total revenue of CHF 19.3m up 27 % reflecting improved business momentum.
• Well positioned to capture future growth due to our focus on commodity trade finance.

TradeXBank announces that it has appointed Christof Albrecht as its new Chief Operating Officer (COO). He will be responsible for further strengthening the bank’s operations and its digital transformation. He will become a member of the Executive Board upon completion of the standard regulatory approval process. d

TradeXBank AG has appointed Giacomo Frei as new Head of its Commodity Trade Finance (CTF) department as it enters next phase of growth.

The Bank’s financial resilience in commodity trade finance, evidenced by our return to profitability immediately after incurring significant losses in 2022, highlights the robustness of our business model, the risk management approach and our team's dedication. With its capital over CHF 500m, the Bank remains well capitalized comfortably exceeding all regulatory ratios, which provides to the Bank solid ground for the further business growth.

TradeXBank fulfills conditions to resume business to its full extent and in particular restart operations in US dollars in the second half of 2024 following the removal of its predecessor, Sberbank (Switzerland) AG, from the Sectoral Sanctions Identifications list of the Office of Foreign Assets Control (OFAC), a US Treasury agency.

TradeXBank AG announces that it has appointed Viviane Gabard as new Chief Risk Officer. Viviane Gabard will be joining the Executive Board (upon the conclusion of the necessary regulatory approval). She will be responsible to lead the risk and credit management function into the next growth phase of the bank.

The Board of Directors of TradeXBank has appointed Camille Sednaoui as new Chief Executive Officer to support the firm’s growth ambitions.

Following a very challenging year for the Bank, marked by a change in ownership, we are pleased to report that the Bank has successfully managed the restart of the business in the Commodity Trade Finance (CTF).