euro adhoc: Bank Sarasin + Cie AG
Quarterly or Semiannual Financial
Statements
Half-year results of Bank Sarasin & Co. Ltd, Basel (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Return to normality: Healthy operating result in difficult market environment
In the first half of 2003 Bank Sarasin & Co. Ltd achieved an operating result of CHF 29 million and a group profit of CHF 31 million. The figure of CHF 29 million amounts to just under 90% of the corresponding result for the whole of 2002.
Operating income declined by 11% because of the market environment. Since costs were also cut back by 11%, it was possible to keep operating profit fairly stable (-12%) compared with the first half of 2002.
Total assets under management increased by CHF 791 million over the end of 2002 to stand at CHF 47.2 billion.
For additional information go to http://www.sarasin.ch/sarasin/show/news/news_main/1,1066,0-0-1,00.html?path_login=
Further information:
Matthias Hassels, Chief Financial Officer, Investor Relations Tel. +41/61/277 77 28 Fax. +41/61/277 75 18 E-mail: matthias.hassels@sarasin.ch
Dr Benedikt Gratzl, Corporate Communications, Media Relations Tel. +41/61/277 70 88 Fax. +41/61/277 77 30 E-mail: benedikt.gratzl@sarasin.ch
end of announcement euro adhoc 26.08.2003
Further inquiry note:
Dr. Benedikt Gratzl
Head of Corporate Communications, Media Relations
T.: +49(61)277 70 88
benedikt.gratzl@sarasin.ch
Branche: Banking
ISIN: CH0002267737
WKN: 872869
Index: SPI
Börsen: SWX Swiss Exchange / regulated dealing