Basler Kantonalbank

Basler Kantonalbank
Founded 1899
Services Banking
178.2 mln CHF (2017)[1]
Total assets 24 086 mln CHF (2017)[1]
Number of employees
 797 (2017)[1]
Website bkb.ch

The Basel Cantonal Bank is a Swiss cantonal bank which is part of the 24 cantonal banks serving Switzerland's 26 cantons. Founded in 1899, Basler Kantonalbank in 2017 had 17 branches with 979 employees; total assets of the bank were 24 086 mln CHF. Basler Kantonalbank has full state guarantee of its liabilities.[1]

History

Since 1999, it has a majority ownership of the Bank Cler (former Coop Bank).

In October 2012 the bank's CEO, Hans Rudolf Matter, resigned after 620 clients lost more than CHF 100 million in a scandal involving ASE investments. Eventually the number of affected clients grew to about 1,500.[2]

In 2013 Chairman Andreas Albrecht was forced to resign following the Swiss Financial Market Supervisory Authority (FINMA) determined that the bank had rigged sales of its own participation certificates. BKB was ordered on 21 November 2013 to pay back CHF 2.6 million ($2.9 million) that it had earned through these improper sales.[3]

Organization

The highest governing body of Basler Kantonalbank is the Bank Council. This council has 9 members, with Adrian Bult as the current president. Operational responsibility lies with the executive Board, which has six members and is headed by Guy Lachappelle (CEO).

See also

References

  1. 1 2 3 4 Bank Profile: Basler Kantonalbank
  2. ↑ Stalder, Philippe (23 March 2015). "Die kriminellste Gemeinde der Schweiz". Tages Anzeiger.
  3. ↑ "Basel cantonal bank chairman resigns over scandal". Swiss info.ch. 29 November 2013.

Coordinates: 47°33′10″N 7°35′36″E / 47.5527°N 7.5934°E / 47.5527; 7.5934

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