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Banque Cantonale de Genève

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Banque Cantonale de Genève

History:

Created in 1994 through the merger of CEG Genève (establ. 1816) and Banque Hypothécaire du Canton de Genève (establ. 1847). Serves a mainly French-speaking and Protestant region in western Switzerland bordering France (capital: Geneva, or Genf in German). Liabilities covered by limited cantonal guarantee. Acquired Anker Bank, Zurich, in 1997. Bought the 20% of Banque Cantonale de Genève (France) SA, Lyon, it didn't already own from GPA-Vie in 1999. Rescued by cantonal government in 2000 after heavy losses in local real estate market. About Sfr5 billion of bad loans were transferred to special-purpose company to cleanse the balance sheet. Several former officials face prosecution. Absorbed Anker Bank in 2008.

KEY Facts:

Established 1816
Employees 784
Ownership
The canton of Geneva (49.8%/53.3%)
The city of Geneva (20.9%/23.7%)
44 local authorities in the canton (7.4%/9.2%)
Private shareholders (21.9%/13.9%)

Swift/BIC: BCGECHGGXXX

Postal account: 12-1-2

Clearing Bank No: 788

Telex: 422182 bcge ch

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