Raiffeisen Group reported a first-half 2026 net profit of CHF659.3 million, an 18.9% increase from the same period a year earlier, as the Swiss bank navigated a challenging operating environment.
Net interest income rose 6.3% to CHF1.41 billion, supported by a 1.9% increase in mortgage lending to CHF235.3 billion. Total customer loans expanded by 1.9% to CHF248.5 billion, including a CHF4.7 billion rise in corporate lending, where the loan book reached CHF58.8 billion, up 3.2%. Customer deposits grew 1.3% to CHF228.7 billion.
Wealth management and commission-based services led performance, with a CHF397 million profit, an 8.4% increase. Net new money inflows totaled CHF3.3 billion, of which CHF2.8 billion flowed into discretionary mandates. Deposit volumes rose by CHF5.8 billion to CHF65.6 billion, a 9.7% increase, while total assets under management increased 2.7% to CHF289.8 billion.
Trading revenue surged 24.6% to CHF169.4 million, driven by higher customer activity in foreign exchange and precious metals amid elevated market volatility. Personnel expenses climbed 4% to CHF856.6 million, while operating costs edged up 0.5% to CHF301.8 million. The cost-to-income ratio improved to 56.8% from 59.4% at the end of 2025.
Raiffeisen described its capital position as strong, citing a CHF200 million bail-in bond issuance in May and a credit rating upgrade by Fitch in spring from A+ to AA–.
Gabriel Brenna, CEO of Raiffeisen Switzerland, said the first half was "very successful," highlighting growth in lending, interest income, commission-based services, and positions in investment, retirement, and corporate banking.
For the second half of 2026, the bank expects stable business development above prior-year levels. However, it also announced efficiency measures to sustain profitability, targeting cost savings of around CHF60 million in personnel and operating expenses at Raiffeisen Switzerland by 2027. These measures include up to 180 job reductions, with more than half expected to be achieved through natural attrition, elimination of unfilled positions, cuts to external labor, and early retirements. Additional organizational adjustments with staffing implications will be detailed in a separate announcement.
The bank emphasized a responsible approach to the workforce reductions.
