The Zürcher Landbank (ZLB), headquartered in Elgg, reported a first-half operating result of 1.3 million Swiss francs and a net profit of nearly 1 million francs, matching last year’s level despite additional costs and a challenging market environment.
Net interest income rose 1.5% year-on-year to CHF 1.3 million, while commission income from securities and asset management surged 7.3% to CHF 1.2 million. The bank attributed the gains to growth in its core business, even as persistently low interest rates weighed on broader lending margins.
On the balance sheet, ZLB’s mortgage portfolio expanded by 3.1 million francs in the six months to June, while customer deposits increased by 4.3 million francs. Operating expenses remained flat, but the bank faced higher regulatory and compliance costs alongside one-off expenses tied to its 175th anniversary.
Strategic adjustments were also finalized during the period. ZLB completed the buyback of its 25% stake held by Bank Avera, a partnership dating to 2016. The shares were repurchased in tranches, with the final 25% acquisition completed in early February 2026. Following the transaction, the shares were placed with existing and new investors in the bank’s regional market, ending Bank Avera’s involvement in ZLB’s ownership structure.
