Graubündner Kantonalbank (GKB) reported a strong first-half performance, with net profit rising 18.2% year-on-year to 137.2 million Swiss francs in the six months to June 2026, while operating income increased 11.2% to 286.3 million francs.
The bank’s core operating result, a key profitability metric, climbed 18.1% to 140.3 million francs. Net interest income, the largest revenue driver, grew 9.3% to 172.9 million francs despite the prolonged low-rate environment, offset by higher loan volumes and gains from its capital investment strategy. Additionally, GKB released 3.5 million francs in previously required loan-loss provisions.
Commission and service income rose 13.5%, while trading income edged up 2.1%. Operating costs increased 3.0% to 132.4 million francs, improving the cost-to-income ratio to 46.8% from 48.0% a year earlier.
Customer deposits at the parent bank rose by 0.7 billion francs, though outflows from institutional clients at its subsidiaries led to a net deposit decline of 1.0 billion francs, compared with a 413 million franc outflow in the same period of 2025.
GKB upgraded its full-year outlook, now targeting net profit above the 2025 level of 224.6 million francs, revising from an earlier forecast of roughly flat earnings.
The bank also outlined plans to reposition its subsidiary BZ Bank as a specialist in equity-based solutions, leveraging GKB’s research and asset management capabilities for client portfolio strategies and thematic fund management. GKB will provide additional support in finance, controlling, and risk management to drive synergies.
BZ Bank remains embroiled in a legal dispute with investor Remo Stoffel, linked to a managed investment product. The claim, valued in the mid-hundred-million range, is disputed by GKB and BZ Bank, which have set aside provisions for expected litigation costs in the first-half accounts.
