Glarner Kantonalbank (GLKB) achieved a net profit of 9.4 million Swiss francs in the first half of 2025. This represents a decline of around 22 percent compared with the same period last year, as can be seen from the figures published on Friday. Operating income fell by 4.9 percent to 47.3 million francs. Thanks to consistent cost management, however, the result was stabilized: personnel expenses and material expenses are 1.7 and around 1.0 percent below the previous year's level, respectively.

At 11.3 million francs, operating profit was 20.9 percent below the previous year's level. Total assets rose by 48.7 million francs to 9.1 million francs. 

Significantly Lower Earnings in Interest Business

Not entirely unexpectedly, GLKB suffered its biggest losses in interest business. This was due to interest rate cuts by the Swiss National Bank. At 29.52 million francs, net income was 13.7 percent lower than in the same period last year.

In contrast, income from commission and service business rose by 5.7 percent to 8.9 million francs. According to the statement, this was driven in particular by higher customer activity in the investment business and growth at the Bitubi platform, formerly GLKB Kreditfabrik.

Significant Growth in Trading Business

Income from trading business increased significantly, reaching 5.6 million francs, an increase of 51 percent. Among other things, this was due to the allocation of income from currency swaps to trading income, while the corresponding expenses continued to weigh on interest income.