Schwyzer Kantonalbank′s  business performance declined by 17 percent compared to the previous year, resulting in a net profit of 39.1 million Swiss francs, an 8.5 percent decrease from the previous year's record figures.

More staff, higher wages

On the expense side, operating costs rose to 66.7 million francs, driven mainly by an increase in personnel, a general cost-of-living adjustment for all employees, and individual salary increases.

The bank's interest income was notably impacted, with gross interest earnings falling to 99.9 million francs, an 8.2 percent decline compared to the previous year.