Graubündner Kantonalbank (GKB) reported a consolidated profit of 229.5 million Swiss francs in 2024. This is 0.5 percent less than the record result from the previous year and is at the upper end of the bank's expected range of 210 to 230 million francs.

The result also includes an extraordinary gain of 4 million francs from the sale of the stake in Twelve Capital Holding.

«In a rapidly changing business environment with four interest rate cuts by the SNB, GKB's business model with its strong interest rate differential business and growing investment and pension business is once again proving its robustness,» writes Peter Fanconi Chairman of the Bank Council, in a statement on Friday.

Net operating income fell by 1.6 percent year-on-year to 254.3 million francs. Net new money was also down at -0.1 billion francs.

Higher Customer Loans

In contrast, customer loans rose by 3.0 percent to 24.69 billion francs. The growth was primarily generated by gains in market share within the domestic market, the report continues.

The net interest income of 327.6 million francs (-1.7 percent) is pleasing against the backdrop of interest rate cuts and increased economic uncertainty, the report continues.

In the commission and services business, the bank benefited from the good acquisition performance and a favorable market trend. Net income here improved 7.7 percent to 171.6 million francs. The trading business also chieved an increase of 5.1 percent with a profit of 20.8 million francs.

Total operating income increased by 0.5 percent to 528.4 million francs in the reporting period.

New Hires and Investments

Costs rose by 5.9 percent to 248.3 million francs. GKB refers to new hires and investments in digitalization. Holders of participation certificates will once again receive an unchanged dividend of 47.50 francs.

In total, the cnaton of Graubünden will receive 103,7 million francs zu. Of this, 3.6 million is for the settlement of the statue guarantee.