Published on November 19, 2024 at 5:30 p.m. / Modified on November 20, 2024 at 06:18.
Exactly 2 years ago, Arab Bank Switzerland triggered a small shock in the Geneva financial center by announcing that it was purchasing Gonet, one of the oldest private banks in the city. We also learned that other operations were planned, still under the Gonet brand. This is now done, with the acquisition of ONE swiss bank, also based in Geneva and whose origins date back to the Bénédict Hentsch bank, founded in 2004.
The two establishments are of similar size, with around 6 billion francs in assets each, even if Gonet has 130 employees and ONE swiss bank around 80. Concretely, the first buys the second, which will be integrated under the Gonet brand, whose general director Jean-René Lepezel will remain in charge, according to a press release published Tuesday. The operation, the amount of which has not been disclosed, will be financed with the support of Arab Bank Switzerland (ABS). According to various sources, a sale price of between 70 million and 100 million francs seems likely.
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