Valiant reported operating profit of 53,9 million francs for the first quarter of 2026. This represents an increase of 0,4 percent compared with the same period last year, according to figures published on Thursday.
Net profit rose by 1,5 percent to 33,2 million francs.

Both the interest business and the commission and services business developed «very positively», the bank said. Total operating income increased by 0,9 percent to 134,7 million francs.
«We remain on track even in a challenging environment,» Valiant CEO Ewald Burgener was quoted as saying in Wednesday’s statement. The strategy continued to be implemented «consistently».

Higher Lending Volumes

The interest business developed «solidly» despite the zero-interest-rate environment, the statement added. Net interest income rose by 0,9 percent to 97,2 million francs. Customer loans increased by 1,1 percent to 30,7 billion francs, while mortgage lending grew by 1,2 percent. Customer deposits amounted to 22,9 billion francs, up 0,5 percent from the same quarter a year earlier.

In the commission and services business, profit increased by 4,6 percent to 25,8 million francs. The bank benefited in particular from a strong rise in commission income from securities and investment business, driven by higher assets under custody. In contrast, income from trading operations fell by around 11 percent to 10,0 million francs, although it remained at a high level.

Outlook Unchanged – Share Price Drops Sharply

Costs increased by 1,4 percent to 75,7 million francs. The bank pointed, among other things, to measures aimed at increasing its attractiveness as an employer. The outlook for the full year remains unchanged. Accordingly, Valiant continues to expect a «slightly higher» consolidated profit for 2026.

Valiant shares were trading 10,8 percent lower at 160,20 francs on Thursday morning (09:35). According to AWP, analysts had expected a significantly higher quarterly profit.