Glarner Kantonalbank

Latest Results (06.05.2026):

Glarner Kantonalbank — Q2 2024 (data as of June 30, 2024): the bank reported mid‑year operating revenues of CHF 51.2m and core earnings of CHF 12.1m on adjusted assets of CHF 9.17bn. Customer loans (gross) stood at CHF 6.68bn while adjusted common equity was CHF 411.4m. S&P notes the bank’s very strong capital base and low problem‑loan metrics, but also highlights below‑average cost efficiency and a material reliance on wholesale funding.

Key figures (Q2 2024)

Operating revenues CHF 51.2m; non‑interest expenses CHF 35.4m; core earnings CHF 12.1m; adjusted assets CHF 9,170.5m; gross customer loans CHF 6,680.0m; adjusted common equity CHF 411.4m (all per S&P report, data as of June 30, 2024).

Profitability & efficiency

Return on average common equity about 5.7% (Q2 2024 basis); cost‑to‑income ratio 69.2% — S&P flags weaker cost efficiency and risk‑adjusted profitability versus most cantonal peers.

Capital strength

S&P describes capitalization as "very strong." Adjusted common equity CHF 411.4m (Q2 2024); S&P’s commentary references an estimated RAC around the low‑to‑mid‑20s% (S&P estimates ~23.4% at Dec‑2024) and the bank’s target to keep total regulatory capital ≥17% through 2026.

Asset quality

Very low reported impairment metrics: gross non‑performing assets ≈0.0% (Q2 2024 data); S&P’s December‑2024 estimate shows NPA ~0.15% and a historically low cost of risk (~5 bps as of Dec‑2024). Portfolio remains highly concentrated in residential mortgages (~90% of gross loans) with an average LTV around 50% (June 30, 2024 reference).

Funding & liquidity

Core deposits made up 57.1% of the funding base (Q2 2024); customer loans/net customer deposits ratio 136.7%; wholesale funding share ~43% noted by S&P. Stable funding ratio ~105.3% and broad liquid assets coverage of short‑term wholesale funding roughly 1.4x — adequate but weaker than many peers.

Rating context

S&P assigns Glarner Kantonalbank an issuer credit rating of AA/Stable/A‑1+ (SACP a‑), reflecting an "extremely high" likelihood of timely and sufficient extraordinary support from the Canton of Glarus; this support materially underpins the bank’s credit profile despite the smaller franchise and regional concentration.