Page 21 - ASSET MANAGER 11 (EN)

TRANSPARENCY IN DETAIL
Swissquote
cornertrader
TradeDirect
Postfinance
Money-Net.ch
MIGROSBANK
VZ Depotbank
Zuger KB
Raiffeisen Schweiz
Hypothekarbank Lenzburg
Helvetische
Bank CLER *
Bank
OVERALL ONLINE IMPRESSION TRANSPARENCY
St. Galler
Kantonalbank
14% 15%
Clientis
RESPONSE TIME 14%
PARTICIPATION 14%
COMPLEXITY 14%
COMPREHENSIB 15%
FORMULATIONS 14%
ILITY
VP Bank *
Zürcher Kantonalbank
Bank zweiplus
Credit Suisse *
UBS
0 20 40 60 80 100 120 140
In fifth place, an upset with 56.3 points, is the yellow giant. PostFinance outperformed UBS and Credit Suisse in all valuation criteria. Active traders automatically receive a discount.
MIGROSBANK, with 50.5 points, offers an interesting ticket fee model for active traders. The tax statement is available free of charge from CHF 250000. Only with a Tier 1 capital ratio of 12.85 % did it lose points.
The Helvetische Bank is, with 46.8 points, in the midfield. The bank offers attractive conditions, especially for foreign exchange, but gives away points in online transparency.
Hypothekarbank Lenzburg with 41.8 points and Cli- entis Zürcher Regionalbank with 40.1 points are just ahead of Raiffeisen Bank with 39.5 points and the can- tonal banks. Attention: With Clientis and Raiffeisen the foreign exchange costs vary from branch to branch.
The following cantonal banks are very close together, at the end Zuger Kantonalbank with 38.7 wins the race followed by Zurich with 38.2 and St. Gallen with 34.9 points.
Last but not least, the UBS with 21.8 points. The total costs do not include the cost of the tax statement. UBS is below average in all valuation criteria, but meets the regu- latory minimum requirements for the Tier 1 capital ratio.
3. EVALUATION CRITERIA
1. Transparency
was weighted at 20 percent and subdivided into the following seven criteria. 1.Are the conditions easy to find online? 2.Are the conditions easy to understand for laymen? 3.Does the bank only use uniform costs, which are applied to all banks? 4. Can the terms and conditions be compared easily with other banks? 5.Was the bank cooperative in par- ticipating? 6.Did the bank answer? 7.Is the overall picture of the bank positive regarding transparency?
2. Core capital ratio
was weighted at 35 percent. The Bank zweiplus, with the highest tier 1 capital ratio of 42.95%, received the maximum valuation of 35%, a bank with half that core capital ratio--for example, 21.47%--thus only gets 17.5 percentage points for the valuation.
3. Total costs
were weighted per investor profile with 15 percent for each, so 45 percent in total. Cornertrader , with the lowest total cost of, for example, 0.246% for the passive investor, has received the maximum rating of 15%. A bank that is exactly twice as ex- pensive thus comes to 7.5 % and a bank that is ten times more expensive receives just 1.5 percentage points for the overall rating.
Source: INVESTORY AG