Page 20 - ASSET MANAGER 11 (EN)

20 • BANK COMPARISON
ASSET MANAGER • NO. 11/2019
A bank offering creative pricing models for advisory and management mandates, including tax statements, is not an isolated case, but there is nothing similar for the exe- cution only investor. How much the tax statement costs individually without expensive package costs, however, is nowhere.
money-net and Bank CLER (with the E-Depot flat rate) are exemplary and are going with the times here; for them, tax identification is included.
The evaluation's criteria are detailed in the gray box on the right. The first criterion, which has a total of seven transpar- ency criteria, is online transparency, which was assessed on the following points:
1. Is the information available online? 2. How long do you have to search? 3. What information is available?
4. Is a PDF download possible?
Of the 150 maximum possible transparency points, banks achieved between 22 and 136 points. The Swiss online pioneer Swissquote scored the best result with 136 points, followed by cornertrader with 129 points and Trade- Direct with 128 points.
The modern banking customer informs themselves online. How quickly the sought-after information is found is crucial. If you look on the homepage of a bank for terms such as cus- tody fees, brokerage fees, transaction costs, tax statement and get everything displayed except the information you are looking for, what does that tell us about transparency of this bank? There is still great potential for improvement at certain banks.
Missing information and ambiguity were clarified via the me- dia department of the bank and they were then sent our cal- culations for review.
The very short time frame for obtaining information was 24 hours and another 24 hours to check and comment on the calculations. 15 out of 19 banks actively participated and answered all questions promptly.
In addition to transparency and overall costs, bank safety is one of the most important factors. For the comparison, we used core capital as a basis. All banks meet the mini- mum regulatory requirements.
Thanks to a weighting of the core capital ratio at 35 % in the overall valuation, the Bank zweiplus, with its core capital ratio of 42.95 %, particularly benefits . Also excel- lent are VZ Depository Bank, Swissquote, cornertrad- er (Corner Banca), Helvetische Bank, VP Bank and Zürcher Kantonalbank, all of which have a Tier 1 ratio of more than 20 % as of 31/12/2018.
CORE CAPITAL RATIOS
Bank zweiplus
VZ Depotbank
Swissquote
cornertrader
Helvetische Bank
VPBank
Zürcher KB
Hypothekarbank Lenzburg
Clientis
money-net
Zuger KB
PostFinance
Strateo
TradeDirect
Raiffeisen Schweiz
Bank CLER
St. Galler KB
UBS
MIGROSBANK
Credit Suisse
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
CET1 as of 31.12.2018
In all three evaluation criteria, cornetrader from Cornèr Bank performs very well. No matter which profile, the investor pays the least at cornertrader. The creditwor- thiness of Cornèr Bank is also excellent--a Tier 1 ratio of 25.7%--and thus is the winner in this comparison with 84.9 points out of 100 maximum possible points in the overall evaluation.
In second place, with 66.4 points, Swissquote has the high- est transparency and a Tier 1 ratio of 29 %. Swissquote is always among the top 5 in terms of total costs.
The VZ Depository Bank lands, with 65.5 points, at the third place overall. It has an attractive ticket-fee model, an excellent core capital ratio of 29.2 % and is always among the top 5 in terms of overall costs.
The Bank zweiplus, with 52.5 points thanks to a very high Tier 1 ratio, occupies the fourth place.
Source: INVESTORY AG