It was meant to be a breakthrough: On October 17, 2024, the troubled Radicant Bank, a subsidiary of BLKB, announced its merger with Numarics. The aim was to offer private clients as well as small and medium-sized enterprises a fully integrated range of banking, investment and administrative services.

The plan did not work out. Radicant Bank disappeared from the market at the end of 2025; in the summer, BLKB had to recognize a substantial write-down of 105,5 million francs.

Independent Expert Report

The events had already been examined in September 2025 by an independent commission appointed by BLKB. Its conclusion: the experts criticized the late disclosure of the «financial and economic situation» of the newly created entity, Radicant, following the merger.

According to the experts, it would have been appropriate to consider earlier and, if necessary, «gradual publication of the financial situation.» The approach chosen by the Bank Council ultimately resulted in the situation being made public «too late, namely only on July 3, 2025, with the ad hoc announcement regarding the write-downs on Radicant.»

Parliamentary Commission Informed

Finma is now also taking up the matter, BLKB reported on Thursday. It is examining the processes and background of the transaction.

«BLKB welcomes Finma’s investigation into the processes and background of the Radicant–Numarics transaction. In recent months, we have made good progress in the internal review of this transaction and have already implemented appropriate internal measures. The results of Finma’s investigation will support us in the further review process,» said interim Bank Council Chairman Thomas Bauer (who himself previously served as Chairman of Finma’s Board of Directors).

He added: «The Parliamentary Investigation Commission of the Cantonal Parliament (PUK), which is just beginning its work, has been informed by us about Finma’s investigation. Our aim is to support both investigations. In doing so, we also want to help ensure that duplication of efforts in the ongoing investigations can be avoided.»