Zuger Kantonalbank

Latest Results (01.12.2025):

Zuger Kantonalbank — first half of 2025 (covering Q1–Q2 2025): The bank reported a strong H1 2025 with a six‑month Group profit of CHF 70.9 million, up 18.3% year‑on‑year. Results were driven by higher net interest income, improved commission and trading revenues, and contained cost growth, producing an operating result of CHF 82.4 million and a cost‑income ratio of 42.2%.

Profit

Six‑month Group profit: CHF 70.943 million (H1 2025), +18.3% vs H1 2024.

Net interest and one‑offs

Net result from interest operations: CHF 107.985 million, +7.2% Y/Y. Gross interest result was CHF 108.735 million (up 5.2%); the report notes a one‑off interest income contribution of CHF 8.7 million.

Commissions & trading

Commission and service fee income: CHF 46.188 million, +11.2% (securities and investment business +14.9%). Result from trading activities: CHF 9.912 million, +16.7%, helped by higher FX activity.

Operating income and expenses

Operating income: CHF 168.026 million, +9.0%. Operating expenses: CHF 71.207 million, +3.6% (personnel +3.4%, general & admin +4.3%) due to investments in growth and IT. Cost‑income ratio improved to 42.2% (‑1.6 ppt).

Balance sheet size and composition

Total assets: CHF 19.656 billion, +4.1% vs year‑end 2024. Liquid assets grew strongly (+35.2% to CHF 3.132 billion). Loans to customers roughly stable at CHF 15.593 billion; mortgage loans CHF 14.655 billion.

Client funds & AUM

Customer deposits: CHF 12.901 billion (stable). Assets under management: CHF 20.140 billion, +4.3% vs 31.12.2024 (about CHF 0.8 billion increase, roughly half from market performance).

Risk provisions and credit quality

Change in value adjustments for default risks: net –CHF 0.75 million (improved vs prior year). No material events after 30 June 2025 reported.

Capital and reserves

Reserves for general banking risks remain strong at CHF 790.682 million. Equity rose to CHF 1,558.659 million; retained earnings reserve increased to CHF 466.466 million.

Outlook

Zuger Kantonalbank is cautiously optimistic for H2 2025, expecting to achieve a slightly higher result for the full year 2025 despite geopolitical and macro risks, supported by investments in growth and efficiency.