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Banque Cantonale de Genève to propose higher dividend

Swiss lender Banque Cantonale de Genève, during its May 2 annual general meeting, will propose a full-year 2017 dividend of CHF2.90 per share, up 5.5% on a yearly basis.

The bank reported a full-year 2017 consolidated profit of CHF81.6 million, up from CHF79.0 million in 2016, as operating income ticked up to CHF366.1 million from CHF349.5 million.

For 2018, the bank said it expects its operating profitability "to be close to that of 2017." It also expects lending growth to remain moderate owing to regulations over capital requirements and countercyclical buffers.

The lender also said it is "stepping up" its operations in less capital-intensive areas of private banking, asset management, investment funds, M&A and financial engineering consultancy.