A year in the life of BCF 2024

Strategy

In November 2024, the Board of Directors approved the strategy and strategic objectives for the next three years from 2025 to 2027. BCF continues to stand out through its proximity to its customers. Support for businesses in the canton’s economic fabric remains a key element. On the private customer side, the Bank will strengthen its approach by expanding its advisory and investment solutions.

Profitability

Operating profit reached 236.5 million francs, an increase of 12.3 million francs (+5.5%).

Efficiency

Once again this year, BCF has been very economical with its resources. The cost/income ratio (the ratio between operating expenses and operating income after depreciation) stands at 35.3%.

A strong capital base

To measure the Bank’s solidity, FINMA has defined a minimum capital ratio of 12%. With a CET1 ratio (core capital) of 18.93%, BCF fully complies with FINMA’s regulatory requirements.

Investments in the network

For BCF, personal ties and close contact with its clients is essential. That is why it continued to invest in its branch network in 2024. In particular, the Domdidier premises have been completely renovated and modernized. At Headquarters, the first-floor meeting rooms have been completely renovated to welcome customers in the best possible conditions.

98 million allocated to the Canton

Thanks to its excellent 2024 results, BCF is paying the Canton the sum of 98.0 million francs. Taking into account the taxes paid to the Canton, the municipalities and the parishes, a total of 107.9 million francs is being paid to the Canton’s public authorities.

Human resources

With 548 employees, Banque Cantonale de Fribourg is one of the main employers in the Canton of Fribourg. It offers its employees a secure job in a successful company, attractive working conditions and top-quality training.

In 2024, BCF employees successfully completed 48 higher education courses, including 2 postgraduate diplomas, 4 HES-SO Bachelor’s degrees, 2 federal diplomas, 6 CYP, 22 diplomas or certificates, and 12 certifications. 20 apprentices and 5 trainees are currently in training.

BCF fulfills its mission by contributing to the support of the cantonal economy. The Bank established the Corporate and Real Estate Professionals division in view of our staunch commitment to this segment. This division offers a comprehensive range of products and services as well as individualized service for the various economic players in the region. Essentially a «bank for business and entrepreneurs» this division actively provides expert advice to all types of companies. It supports the development of industrial, independent, and professional real estate entities as well as municipalities and public-law corporations by providing a wide range of products and services essential for their operational and financial activities. For example, BCF covers companies’ needs for working capital, financing, foreign exchange, and bank guarantees.

With advisors firmly rooted in the economic fabric of the region, BCF delivers pragmatic solutions especially suited to meet its clients’ needs. The expertise and solid experience of the special financing team provides additional support to start-ups, complex financial arrangements, and corporate succession transactions. Corporate succession is a central, essential concern given that one out of every two business leaders is over age 50.

With its presence through 26 branches and its decision-making centers throughout the canton, the BCF maintains and develops lasting relationships with its business clients by effectively determining viable proposals while understanding local constraints.

In 2024, real estate prices increased, with contrasting trends between apartments and single-family homes, as well as significant differences depending on the location. At the same time, the Swiss National Bank (SNB) continuously lowered its key rate from 1.75% to 0.50%. The study of the Fribourg property market, published in collaboration with the consultancy firm Wüest Partner SA, confirms these trends.  Population growth and the increase in the number of small households have influenced demand, reducing the vacancy rate and pushing rents upwards. Despite an uncertain economic context, property has confirmed its robustness and its appeal to investors.

As at 31.12.2024, the division dedicated to real estate companies and professionals had client receivables totaling more than CHF 13 billion.

BCF complies with the guidelines in effect issued by the Swiss Bankers Association (SBA) that govern the review, evaluation and processing of loans secured by real estate pledges as well as the guidelines on minimum requirements for mortgage financing. Its rules governing the granting of mortgage loans are based on the principles of caution and thorough analysis. BCF’s methods are based, among other factors, on the client’s financial situation and the property being financed.

The transformation of Wealth Management activities, which began in 2023, continued with the launch of a new distribution management mandate. This development is part of a global wealth approach, integrating real estate assets, corporate shareholdings, pension fund assets and securities portfolios. Based on an in-depth understanding of each client’s professional and personal background, the advisors propose strategic solutions that go far beyond simple stock market
transactions.

BCF Wealth Management offers discretionary management and advisory mandates that strictly comply with regulatory requirements, thus guaranteeing high-quality advice. In addition, BCF integrates the ESG preferences of its clients into its management, enabling them to invest in accordance with their values.

These services are provided by employees based in the Canton of Fribourg. They receive the support of Wealth Planning specialists who are dedicated to helping Fribourg’s numerous entrepreneurs and employees in their transition to retirement by optimizing the management of their assets. The structuring of assets at BCF makes it possible to distinguish among solutions for short-term liquidity needs, investments for a secure retirement, and optimal transmission of wealth to the next generation.

BCF is at the service of the people of Canton of Fribourg. The ‘Private Clients’ division is responsible for managing relations with private individuals and offers tailored and personalized products and services in the areas of financing, wealth management, pension planning and financial planning, as well as in the context of its activities for institutional clients and third-party managers.

BCF has a network of 26 branches spread across the seven districts of the Canton. Direct and local advice to clients remains one of its priorities, which is why the Bank is continuing to renovate its branches in order to welcome and serve its clients in optimal conditions that are adapted to the evolution of the market and society. In this context, the Ependes branch will be replaced by a new site in Marly in the course of 2025.

Instant incoming payments now available

Instant payment is a bank transfer that takes place in real time. Unlike traditional payments, which can take several hours or even a few days, this new type of payment allows transfers to be made in just 10 seconds, 24 hours a day, seven days a week.

Instant payments are made via e-banking or mobile banking and are subject to the same security standards as conventional payments.

To use this service, the sender’s and recipient’s banks must be able to handle instant payments. For BCF clients, only incoming instant payments will be available initially. The functionality for outgoing instant payments will be activated over 2025.

Traditional transfers are of course still possible. Instant payments are an additional service. Currently, they are limited to CHF 20,000 and only possible in Switzerland, on accounts in CHF.

SARON commercial loan

In response to demand from corporate clients, BCF launched the SARON commercial loan on 1 July 2024. This enables companies to obtain a short-term, renewable loan backed by the SARON (Swiss Average Rate Overnight). The SARON is a reference interest rate for the Swiss franc set based on overnight transactions by Swiss banks and the SNB.

This offer is a good alternative to traditional investment credit and other fixed-term advances for business clients who want a variable, transparent rate based on the money market, and which allows them to remain flexible in terms of repayment and changing their financing model.

Pro Senectute training courses and conferences

Cases of fraud are on the increase, particularly affecting senior citizens. In collaboration between the Private Clients division and marketing, an approach has been initiated with ProSenectute.

This approach has made it possible to define three concrete solutions to this problem: training for eight ProSenectute volunteers on the BCF’s digital products, a course for senior citizens (10 participants), and the organization of conferences on financial scams and fraud, bringing together 310 people in two sessions. This initiative will continue in 2025 with an expansion to include other partners.

In addition, every Wednesday afternoon, personalized technical support is offered to customers on the topics of e-banking, mobile banking and TWINT. These sessions, which are very popular, illustrate the Bank’s constant commitment to its customers.

FRiBenk.ch 2.0 – Mortgage online

The new version of FRiBenk.ch simplifies access to mortgages online, enabling clients to finance their property quickly and easily and on favorable terms. Thanks to an improved interface and optimized process, it is now even easier to obtain a personalized offer and finalize a financing with complete peace of mind.

In 2024, the BCF continued to modernize its branches, carrying out a major renovation project and conducting several studies, always with the aim of offering its customers and employees friendly spaces that are adapted to contemporary requirements.

At the Head Office, a reception hall and ten new meeting rooms have been fitted out on the 1st floor. This major work was carried out under the direction of the architect Mario Botta. These spaces are made available to the advisors to welcome customers in optimal conditions.

Domdidier branch

The Domdidier branch has also been given a makeover, having been completely renovated. Representing the values of the land dear to the Broye district, it now offers bright and modern spaces to its customers.

Two counters, one of which is dedicated to advice, and an ATM area, provide a full range of services for our customers.

The new energy consumption standard has also been applied in the branch’s premises and will be rolled out throughout the building in the coming months.

BCF’s commitment to the social, cultural and sporting life of the Canton reflects our desire to partner with the people who make Fribourg so vibrant.

In 2024, the Bank contributed CHF 4,2 million to the development of culture, sports and social activities.

The Bank aspires to long-term collaborations through renewable partnerships of generally three years. Its partner associations can count on a fixed contribution so that they can devote themselves to their activities with peace of mind. BCF has entered into more than 100 partnerships, all while boosting its brand image and supporting the Bank’s business strategy. These partnerships create close contact with nearly 1,000 clubs and groups, as well as clubs affiliated with various umbrella organizations.

In 2024, BCF was proud of its commitments to:

125 years of Fribourg-Tourisme

Fribourg-Tourisme, the organization in charge of promoting tourism in the canton of Fribourg, celebrated its 125th anniversary in 2024. To mark this milestone, Fribourg-Tourisme chose the artist SAYPE, known worldwide for his ephemeral frescoes. Under the Poya bridge, in August 2024, he created «Bridges», a work depicting a child busy building a bridge using small wooden bricks. SAYPE thus played with the strong symbols of Fribourg, a city of cultural and architectural bridges, which make the Fribourg capital a unique place linking generations, languages and cultures. Banque Cantonale de Fribourg supported this project and thus shares a positive message of mutual support and joint effort.

© Saype

Friart

The Kunsthalle Friart Fribourg, a renowned contemporary art center, has been housed since its creation in 1990 in a former cardboard factory in the Basse Ville of Fribourg. It offers a professional platform for the presentation of contemporary artistic forms, thus establishing a valuable link between artists and the public. More than 500 artists have
already presented their works in nearly 300 exhibitions.

Since May 17, 2024, thanks to the support of the Banque Cantonale de Fribourg, access to this internationally renowned venue is now free of charge, with the aim of making contemporary art accessible to a wider audience. Guided tours and educational activities complete the cultural offering in Fribourg.

© Julie Folly

99th Fribourg Cantonal Swiss Wrestling Festival in Frasses

From 3 to 5 May 2024, the wrestling club of Estavayer-le-Lac and Environs organized the 99th Fribourg Cantonal Swiss Wrestling Festival in Frasses. On the Saturday, the boy wrestlers competed against each other. For the first time, the women’s wrestling festival took place at the same time as the men’s matches. On Sunday, after an day of intense competitions, the men’s passes were won by Benjamin Gapany from Marsens, who won the traditional bull, ahead of three other wrestlers from Canton de Fribourg. Throughout the weekend, a packed program of entertainment complemented the festivities. With more than 100 wrestlers registered and a large audience, the festival was a great sporting and popular success.

© Romain Dassonville/romd.ph

TuttiCanti – «Zäme singe – chanter ensemble»

Despite the inclement weather, the Fribourg choral singing festival TuttiCanti 2024 took place in Wünnewil-Flamatt from 29 May to 2 June 2024, under the theme «Zäme singe – chanter ensemble». More than 3,000 singers from all over the canton gave performances, either freely or in front of a jury; they were warmly applauded by an audience that was smaller than expected, but all the more enthusiastic. Singing workshops, the promotion of bilingualism and support for young people were the key elements of the event. A competition for children in particular was also a great success.

27th Giron des Jeunesses Veveysannes

In mid-August 2024, the 27th Giron des Jeunesses Veveysannes was held in St-Martin, bringing together young people from Veveyse, Gruyère and Glâne, under the theme of traditional festivals around the world. Musical entertainment, traditional bingo, dinner-concert, parade of floats and passionate jousting between the 40 teams registered: all the ingredients were present to make this event a real celebration in which nearly 20,000 people took part.
© Anouck Dewarrat