Raiffeisen Group recorded a profit of 1,21 billion francs in 2024, a decrease of 13 percent compared to the previous year.

The institution emphasized that, thanks to growth in investment and corporate banking, it achieved a very strong annual result. The profit was the second highest in Raiffeisen’s 125-year history. Furthermore, the previous year’s result had been significantly boosted by an exceptionally strong performance in the interest business, according to a statement released on Thursday.

Mortgage receivables increased by 4,6 percent in 2024, reaching 220,8 billion francs. Total customer loans amounted to 233,0 billion francs (+4,7 percent).

Customer deposits grew by 7 billion francs to 214,9 billion francs. Net new money inflows into pension and investment deposits totaled 3,4 billion francs.

Lower Interest Income

Net interest income declined by 7,5 percent to 2,8 billion francs due to falling interest rates over the course of the year.

In contrast, income from commission and service business grew by 9,5 percent to 683,4 million francs, reflecting the continued positive development in pension and investment business.

A total of 40'000 new pension and investment accounts were opened last year—more than 150 new accounts per business day. There was sustained high demand for asset management mandates, which Raiffeisen offers starting from a portfolio of 50,000 francs. Both the number and volume of these mandates increased by 32 percent last year.

Income from trading operations rose by 2,3 percent to 261,6 million francs.

Total operating income stood at 3,9 billion francs, down 4,0 percent from the previous year.

Strong Capitalization

The group's equity and loss-absorbing funds increased to 26,9 billion francs. «Due to this excellent capitalization, Raiffeisen significantly meets regulatory requirements for a systemically important bank, with a risk-weighted TLAC ratio of 26,0 percent,» the institution stated.

Results in Line with the Previous Year

Raiffeisen expects a solid business performance in 2025, despite a challenging environment, with results in line with the previous year. The Swiss economy is expected to perform slightly better than in the previous year, driven by robust employment growth, rising real wages, and positive effects from further interest rate cuts.

Raiffeisen economists forecast GDP growth of 1,3 percent for Switzerland. Declining mortgage rates are stimulating real estate demand and are expected to increase price dynamics in both the owner-occupied and investment property segments.

Financial markets are anticipated to experience higher volatility and overall more moderate returns due to tighter trade policies and the introduction of new import tariffs.