2011 AnnuAl RepoRt - Valiant Bank

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10 inteRVieW With the Ceo Valiant’s primary source of income is interest income. In the future you are seeking to boost commission and fee income so that it accounts for one third of all income. Have you achieved any progress in this area? it is true that we are seeking to stabilize our income on a broader basis in the medium term and in so doing bolster our commission and fee income. We have created excellent conditions for this by reorganizing Valiant. As compared to 2010, Valiant’s income structure already shifted slightly in this direction in 2011. The merger of the four subsidiary banks under the umbrella of Valiant Bank is a significant strategic milestone. What considerations were behind this decision? this decision is logical for pure business rea- sons. When margins narrow, costs have to come down. And that is precisely what we did: cut costs. With the new streamlined organization we are more efficient, can avoid duplicating our efforts while leveraging synergy opportunities. And not only that: our organization is leaner. How do Valiant clients benefit from this? Valiant is literally banking on continuity in client service. this means that our clients will continue to be served by their client advisors. thanks to our strong regional roots we are intimately acquainted with the local conditions in the areas in which we operate and are able to provide our clients personalized advice and service tailored to their needs. With our new organization our client focus is even greater, thus underscoring the professional nature of our advisory services even more. What does that mean specifically? let’s consider the case of a company owner who is a Valiant client: as an individual client, a company and an entity responsible for a pension fund. thanks to the new organization we can now offer this client more in the way of one-stop shopping, i.e. an entire range of products extending from mortgages to investment and retirement solutions and financial planning from a single integrated source. this is a key benefit to clients. At the same time we are investing more heavily in training our staff. our objective is to enable our clients to be served by client advisers with first-class training.
inteRVieW With the Ceo The new Executive Board is composed of Valiant’s own management staff – a Valiant philosophy? i am extremely pleased that we have been able to appoint expert management members from our own ranks to the executive board. this shows the significance we attach to employee development at Valiant. We are able to work together efficiently as a team since we have known each other for years. Apart from engaging in reorganization last year Valiant also streamlined its branch network. Why this? there was already a significant drop in clients personally frequenting the branches we closed, meaning the closures were a reaction to their behavior and the perceptible shift toward online banking. to be sure, there were already other Valiant branches in the immediate vicinity of the closed branches. Despite the closures we continue to have a dense network of branches. And not only that: we have installed Atms at most of our former branches, in so doing enabling clients to continue to utilize a portion of Valiant’s services. What strategy are you pursuing with regard to the branch network? the examination of our branch network is an ongoing process, with constantly changing factors playing a role. We want to be close to our clients and also be locally rooted, which is why a dense network of branches is important to us. Apart from locational considerations it is also key that a branch makes economic sense. our clients currently have the option of obtaining services free of charge throughout Switzerland from 170 Valiant Atms and approximately another 170 RbA Atms. this trend toward selfservice is sure to increase. Valiant is seeking to maintain its client focus by being close to where its clients are. Aren’t the closures a contradiction in terms? For us, client proximity primarily means close contact with our clients and knowing their financial needs. our client advisers will continue to be there for their clients, i.e. in the neighboring branches – and don’t mind visiting clients in their homes. 11
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2011 AnnuAl RepoRt - Valiant Bank

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