Banque Cantonale de Genève (BCGE) reported a first-half 2026 net profit of CHF 118.6 million, a 26.2% increase from the same period in 2025 and a new record for the bank.
Operating profit rose 24.7% to CHF 138.3 million, while total operating income climbed 12.3% to CHF 310.5 million. The improvement marked a sharp reversal from the first half of 2025, when net profit fell 18.9% to CHF 94 million amid margin pressure in the interest business.
Net interest income, a key driver of the rebound, increased 10.1% to CHF 181 million. Commission income grew 11.1% to CHF 85 million, while trading income totaled CHF 23 million, up 11.1%. The gains reflected broad-based revenue growth across all business segments, contrasting with the prior year’s uneven performance.
Managed customer assets rose 3.7% from year-end 2025 to CHF 41.9 billion, surpassing the CHF 40 billion threshold. The increase was attributed to net inflows and positive market conditions, with strong demand for discretionary mandates, partnerships with independent asset managers, and online trading activity.
Lending activity also expanded, with total loans and advances to customers reaching CHF 21.8 billion, a 2.1% increase from December 2025. Mortgages accounted for CHF 15.4 billion of the total, up 3.1%, while other customer receivables stood at CHF 6.4 billion. The bank now serves more than 258,000 clients, including 23,577 businesses.
Operating expenses rose at a slower pace, increasing 3.3% to CHF 156.9 million. The cost-to-income ratio improved to 50.5%, while return on equity climbed from 8.05% to 9.48%. Full-time staff numbers rose by 14 to 972.
The bank’s capital position remained robust. Equity increased 2.6% from year-end 2025 to nearly CHF 2.6 billion. The consolidated capital ratio edged down to 16.5%, still well above the regulatory minimum of 12.7%, while the Tier 1 capital ratio stood at 15.83%.
BCGE’s shares have gained ground, trading at CHF 34 at the end of June, or about 95% of the CHF 35.60 book value per share. The stock had previously traded at a larger discount to intrinsic value.
The bank’s outlook has turned more optimistic compared with 2025, when it warned of weaker results due to an adverse interest rate environment and softer economic conditions. BCGE now expects to exceed its 2025 full-year profit.
