Basler Kantonalbank

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Basler Kantonalbank

Company type	Public-law institution
Traded as	SIX: BSKP
ISIN	CH0009236461
Industry	financial service activities, except insurance and pension funding
Founded	1899
Headquarters	Basel , Switzerland
Services	Banking
Operating income	139.27 mln CHF (2022)^[1]
Total assets	55229 mln CHF (2022)^[1]
Number of employees	1241 (2022)^[1]
Website	bkb.ch

Basler Kantonalbank (Basel Cantonal Bank) is a Swiss cantonal bank that is one of the 24 cantonal banks serving Switzerland's 26 cantons. Founded in 1899, in 2019 Basler Kantonalbank had 15 branches with 842 employees; the total assets of the bank were CHF 27.305 billion. Basler Kantonalbank has a full state guarantee of its liabilities.^[1]

History

Since 1999, it has had a majority ownership of 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. On 21 November 2013, BKB was ordered to pay back CHF 2.6 million ($2.9 million) that it had earned through these improper sales.^[3]

In 2023, Basler Kantonalbank joined Asset Management Association Switzerland (Amas), becoming the eighth cantonal bank to support the initiative.^[4]

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 currently headed by Basil Heeb (Chief Executive Officer).

References

^ ^a ^b ^c ^d Bank Profile: Basler Kantonalbank
^ Stalder, Philippe (23 March 2015). "Die kriminellste Gemeinde der Schweiz". Tages Anzeiger.
^ "Basel cantonal bank chairman resigns over scandal". Swiss info.ch. 29 November 2013.
^ "Basler Kantonalbank joins Amas after 'significant' expansion". Citywire. August 17, 2023.