Valiant increased its consolidated profit in 2025 by 2,9 percent to 154,7 million francs. This represents the highest profit in the bank’s history, according to a statement released on Thursday.

Operating profit, however, declined by 3,4 percent to 225,5 million francs. Against the backdrop of a very strong prior-year result, operating income fell by only 0,4 percent to 549,5 million francs.

Solid Interest Business

Growth was recorded in client deposits, assets under custody and lending volumes. Despite the low-interest-rate environment, the interest business remained solid, the statement said.

Total customer loans increased by 0,7 percent to 30,4 billion francs, of which 29,1 billion francs were mortgage loans, representing an increase of 1,6 percent. Client deposits also rose by 1,6 percent to 22,8 billion francs. Assets under custody increased by 13,0 percent.

Net interest income improved by 1,0 percent to 396,3 million francs. The interest margin amounted to 1,09 percent. Valiant attributed this performance to its active balance sheet structure management.

Income from commission and services business increased by 6,0 percent to 98,6 million francs. Income from trading activities, by contrast, declined by around 19 percent to 41,0 million francs. Other ordinary income rose by 10 percent to 13,6 million francs, driven in particular by higher income from equity investments.

Operating Expenses Only Slightly Higher

Total expenses increased only marginally, by 0,4 percent to 301,3 million francs. Both headcount and the total payroll rose, resulting in a somewhat stronger increase of 1,0 percent in personnel expenses. Material costs declined slightly despite investments in digitalisation and new offerings.

A total of 35 million francs was allocated to reserves for general banking risks, strengthening Valiant’s equity base. With a capital ratio of 17,2 percent, the bank remains well above regulatory requirements.

Efficiency Programme with Staff Reduction

The bank has launched a programme to improve operational efficiency, to be implemented as part of its «Strategy 2029». Cost savings of «at least 15 million francs» are targeted, covering both personnel and material costs. This is intended to create scope for future growth, CEO Ewald Burgener is quoted as saying.

As part of the cost programme, the workforce is to be reduced by 80 full-time positions. The implementation will take place gradually over the next two years and is intended to be achieved largely through natural attrition.

Share Buybacks and Higher Dividend

As a result, Valiant exceeds its self-defined upper limit of its capital target range. The board of directors has therefore decided to launch a share buyback programme. Over a period of three years, Valiant shares with a total value of up to 75 million francs are to be repurchased. In addition, the dividend will be increased by 0,20 francs to 6,00 francs per share.

CEO to Join the Board in 2027

The bank is also planning the succession of chairman Markus Gygax. CEO Ewald Burgener will step down from his role at the 2027 annual general meeting and is to be elected to the board of directors. Gygax will not stand for re-election at the 2028 annual general meeting. After a cooling-off period, Burgener is then expected to assume the chairmanship.

Valiant-CEO Ewald Burgener. (Image: zVg)

This solution has been coordinated with the Swiss Financial Market Supervisory Authority Finma, the statement adds. It takes into account both sound corporate governance and the interests of the bank. The succession planning for the CEO role from May 2027 will be initiated immediately.