The bank closed the first half of the year with a profit of 133 million francs, 13,2 percent less than in the same period of the previous year, according to figures presented on Tuesday.

Operating income remained almost at the previous year’s level (400 million francs; -0,7 percent), while expenses rose by 11,2 percent to 222 million francs. This was partly due to the expansion of digital channels and branches.

Commission business provides a boost

The interest business had a negative impact on the accounts. Due to the Swiss National Bank’s interest rate cuts, it continued to decline, generating a net income of 290,8 million francs (-3,5 percent). In contrast, commission income rose by 4,9 percent to 61,3 million francs. Trading income increased by 7,9 percent to 38,2 million francs.

In the first half of 2025, Migros Bank increased the number of customer relationships to 1,2 million (+1,7 percent). There were also increases in both customer loans and customer deposits. Loans rose by 1,8 percent to 51,5 billion francs, of which 47,9 billion were mortgages. Deposits increased by 1,0 percent to 46,2 billion francs, driven by private, savings, and retirement accounts (+3,8 percent).