General Meeting of Neue Bank AG: All motions approved

Vaduz, 2 May 2024. Shareholders approved all motions at the 32^nd ordinary General Meeting of Neue Bank. At 17% per share, the dividend remains the same as in the previous year. Hansruedi Köng was elected as the new Chairman of the Board of Directors.

At the 32^nd ordinary General Meeting of Neue Bank on 26 April 2024, Chairman of the Board of Directors Prof. Dr. Manuel Ammann welcomed the numerous shareholders in attendance. He began by reporting on the persistently challenging environment in the financial sector. 2023 was an operationally successful year for Neue Bank, despite the challenges. Geopolitical risks and further interest rate hikes by central banks to curb inflation brought uncertainty. Although this had only a minimal and short-term impact on the financial markets, the risks remained. In this uncertain global economic environment, it was important to support clients in making the right decisions and preserving their assets.

Unchanged dividend

The shareholders in attendance approved the 2023 Annual Report and granted discharge to the members of the Board of Directors, the Executive Board, and the auditors. KPMG (Liechtenstein) AG was re-elected as auditors for the year 2024.

The General Meeting approved the appropriation of earnings proposed by the Board of Directors and adopted a dividend distribution of 17% on the share capital of CHF 40.0 million, unchanged from the previous year.

Successful fiscal year 2023

Prof. Dr. Manuel Ammann looked back on a successful fiscal year 2023. Neue Bank once again grew organically in 2023 and generated a net profit of CHF 8.2 million. The inflow of net new funds amounted to a gratifying CHF 240.3 million, significantly higher than in the previous year (CHF 166.9 million). As a result, the value of assets under management also increased from CHF 5.8 billion to CHF 6.0 billion, once again passing the 6 billion threshold. With a Tier 1 ratio of 31.3% (previous year: 29.5%), the bank’s capital base is far above the regulatory requirements. This makes Neue Bank one of the best-capitalised banks in the industry and stands for a high level of security and stability.

New elections to the Board of Directors

Due to the previously communicated resignation of Prof. Dr. Manuel Ammann as Chairman of the Board of Directors, the Board of Directors proposed Hansruedi Köng to the General Meeting as the new Chairman of the Board of Directors. The shareholders followed the proposal of the Board of Directors and elected Hansruedi Köng as the new Chairman of the Board of Directors of Neue Bank.

Neue Bank invests in the future

In the first of two steps, the client zone was redesigned In 2023. The new client meeting rooms are equipped with the latest technology, allowing for efficient and targeted use. At the same time, the work area for employees was enlarged. The conversion and redesign of the reception area, including a discretionary counter, will follow in 2024.