The BLKB board of directors has decided to put an end to the experiment. According to Wednesday's statement, BLKB will exit its digital banking subsidiary Radicant. A sale is the preferred option, but the return of the banking license is also being considered.

BLKB Chairman Thomas Bauer explained: «Although Radicant has recently made progress, for example in customer growth and in developing SME applications, the board has concluded after careful deliberation that BLKB is not the most suitable owner for Radicant.»

Silence on Sales Process Details

Bauer also commented on the process: «The board has set a time limit for this. We cannot disclose the exact planning, deadline, or potential buyers, as doing so would compromise the process. Should the sale not succeed within the set timeframe, returning the banking license remains an option.»

The subsidiary itself, now effectively pushed out of the nest, was also quoted in the statement. Radicant Chairman of the Board and BLKB board member Marco Primavesi emphasized: «Radicant's operations are currently running well and are not affected by BLKB's decision. Radicant continues to offer its full range of services to clients.»

Shock in Basel Region

Primavesi further stressed that customer deposits are «absolutely safe» – something that should be taken for granted.

The Radicant case has already led to substantial write-downs for BLKB. Mounting political pressure also prompted the early departure of the former leadership team, with Chairman Thomas Schneider and CEO John Häfelfinger stepping down at the end of July.