Banque Cantonale Vaudoise

Banque Cantonale Vaudoise Vaud Cantonal Bank
Country	Switzerland
Seat	Lausanne
legal form	Corporation
ISIN	CH0015251710
IID	767
BIC	BCVLCH2LXXX
founding	1845
Association	Association of Swiss Cantonal Banks
Website	www.bcv.ch
Business data
Total assets	47.5 billion CHF (December 31, 2019)
Employee	1728 (full-time positions, December 31, 2019)
Offices	66 (December 31, 2019)
management
Corporate management	Pascal Kiener (Chairman of the Management Board ) Jacques de Watteville ( Chairman of the Board of Directors )

The Banque Cantonale Vaudoise (BCV; German  Waadtländische Kantonalbank ) based in Lausanne is the cantonal bank of the canton of Vaud in Switzerland .

BCV is a universal bank with a focus on standardized basic banking services, real estate finance, corporate finance and private banking.

In addition to a network of 66 branches in the canton of Vaud, part-time agencies are also run. These mainly serve the residents in rural areas. So-called agencies are present in towns with 500 to 2000 inhabitants that are not served by the big banks for economic reasons. Besides the Berner Kantonalbank and the Geneva Kantonalbank, BCV is the only one of the 24 cantonal banks that does not have a state guarantee .

The BCV Group employs 1728 people (full-time positions) and has total assets of 47.5 billion Swiss francs (as of December 31, 2019).

BCV activities outside the canton of Vaud

In contrast to most Swiss cantonal banks, which are primarily active in the economic area of ​​the home canton, the BCV's area of ​​activity extends far beyond the canton's and national borders.

In the 1990s, several cantonal banks tried to increase growth outside the canton and state borders. The expansion strategy of BCV in this period to Greece and Hong Kong resulted in losses worth billions. In the past, the Swiss taxpayer had to pay for the damage incurred - even if a cantonal bank, as in the case of the BCV, had no state guarantee.

A notice published by BCV in 2011 indicates that an office will be opened in Zurich. The activities bundled therein relate to the expansion of asset management throughout German-speaking Switzerland .

In a newspaper interview with the newspaper Le Temps on September 15, 2015, the CEO of BCV, Pascal Kiener, commented on the bank's geographic activities that BCV's expansion plans would be limited to the countries bordering Switzerland. Another newspaper article in the NZZ reported in the same year that BCV was acting as a lender for a Canadian-Turkish company in the Canadian province of Saskatchewan. At the invitation of the Banque Cantonale Vaudoise (BCV), Swiss journalists are flown to Regina, the provincial capital of Saskatchewan, to a. speak to then Vice Secretary of Agriculture Alanna Koch about farming in Saskatchewan.

The BCV has reached an agreement as part of the US Department of Justice's Swiss Bank Program, DoJ. The tax dispute between Switzerland and the USA in December 2015 was settled by paying a fine of 41.7 million US dollars.

In an interview given in November 2016, the general manager of the Vaudois Cantonal Bank (BCV), Stefan Bichsel, explained to the Fundplat.com portal that BCV no longer has any representations abroad. The office in Zurich would be the only one outside of the canton of Vaud.

According to a directory on thebanks.eu website, BCV has a subsidiary on the Channel Island of Guernsey, known as the tax haven . As can also be seen from the overview of more than 8,000 European banks, the Banque Cantonale Vaudoise Guernsey Branch is therefore a subsidiary of the Swiss cantonal bank BCV.

The BCV in a tax dispute with the USA

The tax dispute between the Swiss banks and the American Department of Justice (DoJ) is about the allegation that Swiss banks violated US laws by aiding and abetting tax evasion. Of the total of 106 Swiss banks that escaped possible criminal proceedings through self-disclosure, 78 banks - including the BCV - pleaded guilty in category 2. In Category 2 alone, the fines totaled more than $ 1.36 billion, according to the US Department of Justice

In order to avoid the risk of criminal proceedings against the BCV, it was necessary to cooperate with the American judicial authorities. For this, the BCV had to send the names of around 200 employees to the US authorities.

Former BCV director, Gilbert Duchoud, convicted of embezzlement

The Vaud Cantonal Bank BCV, which got into financial difficulties from 1996 to 2001, had to be rescued from ruin by the Canton of Vaud due to bad loans and insufficient reserves. At the height of the crisis in 2002, BCV had amassed a loss of CHF 1.2 billion. In the years that followed, the canton of Vaud had to inject two billion francs of funds to save the bank from ruin. The then President of the Board of Directors, Gilbert Duchoud, is then dismissed by the State Council and compensated with 2 million for the early departure.

As a result of the legal processing of the debacle, it turned out that since 1996 accounting manipulations had been carried out at BCV with the intention of covering up insufficient provisions. As can be seen from the investigation report of the public prosecutor, the manipulations were u. a. has been approved by Gilbert Duchoud.

In the mammoth process, all bank officials were acquitted in relation to the allegations of balance sheet manipulation and forgery of documents. Only Gilbert Duchoud and Jaques Treyvaud were found guilty and convicted of embezzlement in a subsidiary point of the indictment.

Holdings

• TWINT AG BCV is involved in the Swiss mobile payment solution Twint .

Individual evidence

1. ↑ ^{a b} Entry in the bank master of Swiss Interbank Clearing
2. ↑ State-approved foreign adventures. Retrieved December 6, 2017 . 
3. ↑ BCV: BCV | BCV - Banque Cantonale Vaudoise. Retrieved December 6, 2017 (fr-fr). 
4. ↑ BCV opens office in Zurich . In: SWI swissinfo.ch . ( swissinfo.ch [accessed December 6, 2017]).
5. ^ BCV: Interview de Pascal Kiener parue dans Le Temps Finance | BCV - Banque Cantonale Vaudoise. Retrieved December 6, 2017 (fr-fr). 
6. ^ Jean-Pierre Kapp: The king of the lentil market from Canada | NZZ . In: Neue Zürcher Zeitung . October 17, 2015, ISSN  0376-6829 ( nzz.ch [accessed December 6, 2017]).
7. ↑ Saskatchewan is the agricultural stronghold of Canada . In: Finance and Economy . ( fuw.ch [accessed on March 20, 2018]).
8. ↑ Swiss Bank Program | TAX | Department of Justice. Accessed December 6, 2017 . 
9. ^ Justice Department Announces Banque Cantonale Vaudoise Reaches Resolution Under Swiss Bank Program. Accessed December 6, 2017 . 
10. ↑ Tax dispute ended: BCV shares rise. Retrieved December 6, 2017 . 
11. ↑ BCV: Search | BCV - Banque Cantonale Vaudoise. Accessed December 6, 2017 (German). 
12. ↑ "We are among the 25 safest banks in the world" . In: Fundplat . November 20, 2016 ( fundplat.com [accessed December 6, 2017]).
13. ^ The European Banks. Accessed December 6, 2017 . 
14. ^ Banque Cantonale Vaudoise Guernsey Branch (Guernsey). Accessed December 6, 2017 . 
15. ↑ Tax dispute: USA declares banking program over. Retrieved December 6, 2017 . 
16. ↑ Tax dispute: Now the US is bringing in the Swiss harvest . In: finews.ch . ( finews.ch [accessed December 6, 2017]).
17. ↑ Tax dispute with the USA: 106 Swiss banks submit voluntary reports . In: Spiegel Online . January 26, 2014 ( spiegel.de [accessed December 6, 2017]).
18. ↑ Waadtländer Kantonalbank supplies names of bank employees | NZZ . In: Neue Zürcher Zeitung . July 21, 2014, ISSN  0376-6829 ( nzz.ch [accessed December 6, 2017]).
19. ↑ www.20minuten.ch, 20 minutes, 20 minutes, www.20min.ch: penalty for former bank director doubled . In: 20 minutes . ( 20min.ch [accessed December 6, 2017]).
20. ↑ View: Ex-bosses of the BCV convicted . ( blick.ch [accessed December 6, 2017]).
21. ^ Aza: The report is followed by complaints | NZZ . In: Neue Zürcher Zeitung . October 2, 2003, ISSN  0376-6829 ( nzz.ch [accessed December 6, 2017]).
22. ↑ In crisis for a year and a half . In: SWI swissinfo.ch . ( swissinfo.ch [accessed December 6, 2017]).
23. ↑ St. Galler Tagblatt AG, Switzerland: acquittals and conditional fines in the case of BCV . In: St.Galler Tagblatt . ( archive.org [accessed December 7, 2017]).
24. ↑ No balance sheet manipulation at BCV | NZZ . In: Neue Zürcher Zeitung . February 29, 2008, ISSN  0376-6829 ( nzz.ch [accessed December 6, 2017]).
25. ↑ ISO 20022 Switzerland | Twint on the runway | Harmonization, standardization and migration of payment transactions in Switzerland UNIFI (ISO 20022) , September 12, 2016, accessed on November 7, 2017.

Web links

• Website of the Vaud Cantonal Bank
• https://thebanks.eu/banks/18008

Coordinates: 46 ° 31 '8.9 "  N , 6 ° 38' 3.1"  E ; CH1903:  five hundred thirty-eight thousand two hundred sixty-nine  /  152300