2023 stands out as a pivotal year for the Bank, being our first full reporting year following the change in control. Throughout this period, our efforts were primarily concentrated on re-establishing the Bank’s operations and activities, notwithstanding the challenges that were posed by legacy issues. We have achieved a notable progress in rebuilding trust among our clients and partners, thereby establishing a solid foundation for future growth.

Despite facing obstacles, including market volatility and regulatory changes within the commodity trade finance sector, the Bank’s team demonstrated continuous commitment and resilience. Their adaptability and expertise were instrumental in our successful navigation throughout these challenging times, culminating in a profitable year after all the setbacks of 2022. This achievement was based on our staff's professionalism and resourcefulness, affirming our confidence in their ability to overcome challenges. 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. 

Outlook

Looking forward, we are convinced that 2023 has positioned the Bank for continued profitable growth in commodity trade finance. With a reinforced emphasis on client engagement, operational excellence and innovation, we are well-equipped to leverage upcoming opportunities and foster our reputation as a reliable partner in commodity trade financing.