Zuger Kantonalbank

ZUGER

Equity

ISIN CH0493891243 / Valor 49389124

SIX Swiss Exchange (2026-09-01)

CHF 10,550.00+1.93%

Zuger Kantonalbank
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About company

Zuger Kantonalbank is the cantonal bank serving the Canton of Zug in Switzerland, operating as a regional commercial bank that provides a full range of retail and corporate banking services including deposit-taking, mortgage lending, business loans and payment services, alongside wealth and asset management, investment advice, custody and trading facilities for private and institutional clients. As a locally focused lender and financial intermediary, it supports households, small and medium-sized enterprises and public-sector clients in the canton through a network of branches and digital channels, combining traditional lending and deposit activities with advisory and investment solutions.

Summarized from source with an LLMView SourceSector: Finance

Profit and operating result

Six‑month Group profit: CHF 70.9m (+18.3% vs H1 2024). Operating income CHF 168.0m (+9.0%); operating result CHF 82.4m (+16.9%).

Interest operations

Net result from interest operations CHF 107.985m (+7.2%); gross result CHF 108.735m (+5.2%). Results benefited from a one‑off income contribution (CHF 8.7m noted in the report) despite margin pressure from SNB rate cuts. Loans to customers essentially stable at CHF 15.593bn; customer deposits stable at ~CHF 12.9bn.

Commissions and trading

Income from commission and services CHF 46.2m (+11.2%), driven by securities trading and investment activities (+14.9% for securities/investment commissions). Result from trading CHF 9.9m (+16.7%), notably higher foreign‑currency trading activity.

Balance sheet and assets under management

Total assets CHF 19.656bn (up 4.1% vs 31.12.2024). Assets under management CHF 20.14bn (up ~4.3% vs year‑end; +CHF 0.8bn vs 31.12.2024, about half from market performance).

Costs and efficiency

Operating expenses CHF 71.2m (+3.6%) reflecting planned investments in growth and innovation; personnel costs up modestly. Cost‑income ratio improved to 42.2% (down 1.6 percentage points vs prior‑year period).

Credit risk and provisions

Change in value adjustments for default risks in interest operations: CHF –0.75m (vs –2.6m prior year), and net small positive changes to provisions (CHF 0.02m), indicating low credit‑cost pressure in H1 2025.

Outlook and risks

The bank is cautiously optimistic for H2 2025 and expects to achieve a slightly higher result for the full year versus 2024. Main downside risks remain geopolitical tensions, trade conflicts and weak global growth; lower key rates could support activity later in the year.

Summarized from source with an LLMView Source

Key figures

21.0%1Y

36.0%3Y

54.7%5Y

Performance

16.5%1Y

13.5%3Y

14.4%5Y

Volatility