Press release

(Ad hoc announcement pursuant to Art. 53 LR)

BCV Group delivered strong H1 2026 results. Revenues were up 2% to CHF 593m in a low-interest-rate environment. Operating profit increased 5% to CHF 263m and net profit rose 5% to CHF 225m.*

Revenues up 2%
Total revenues were up 2% year on year to CHF 593m. Net interest income was stable at CHF 268m, with expanding loan volumes offsetting the impact of the low-interest-rate environment. Fee and commission income rose 5% to CHF 206m, as positive financial-market trends helped drive wealth-management business. Net trading income increased 3% to CHF 102m, helped by strong business volumes in structured products. Other ordinary income was broadly stable (+1%) at CHF 17m.

Operating profit up 5%
Operating expenses came in at CHF 287m (+2%), reflecting firm cost control. Personnel costs were up 1% to CHF 201m. Other operating expenses increased 3% to CHF 87m. Depreciation and amortization declined 5% to CHF 40m. Operating profit rose 5% to CHF 263m.

Net profit up 5%
The Bank recorded a tax expense of CHF 38m. Net profit was up 5% to CHF 225m. The ROE of 11.3% is one of the highest in BCV’s peer group.

Balance sheet growth
Total assets amounted to CHF 63.3bn, up CHF 1.7bn (+3%) on the end-2025 figure. Mortgage lending expanded 2%, or CHF 755m, to CHF 36.3bn in a still-dynamic real-estate market. Other loans increased 3% to CHF 6.6bn. On the liabilities side, customer deposits grew 3% to CHF 39.4bn.

Net fund inflows of CHF 2.4bn
The Group’s assets under management rose 6%, or CHF 7.7bn, to CHF 141.8bn. Net new money totaled CHF 2.4bn and came from retail-banking, wealth-management, and institutional clients. Investment performance drove AuM up by CHF 5.3bn. 

CHF 379m paid out to shareholders
In accordance with its dividend policy, BCV distributed CHF 4.40 per share to its shareholders in May, for a total payout of CHF 379m. This payout represents a total dividend yield of 4.4% based on BCV’s 2025 year-end share price.

Solid financial position
The Bank’s CET1 ratio stood at 17.6% at 30 June 2026 and shareholders’ equity amounted to CHF 3.8bn, attesting to BCV’s financial solidity. Standard & Poor’s once again reaffirmed its AA rating for BCV and Moody’s maintained its Aa2 rating, both with a stable outlook.

Very solid ESG ratings
BCV’s longstanding commitment to sustainable economic development is reflected in the Bank’s ESG scores. MSCI has given the Bank an ESG rating of AA, the agency’s second-highest score, placing BCV in the “Leader” category. Ethos has reaffirmed the Bank’s A– rating, the second-highest score. ISG ESG has assigned BCV a C rating and placed the Bank in the “Prime” category, while CDP has given BCV a climate rating of A–, placing BCV in the “Leadership” category.

Lausanne, Switzerland, 20 August 2026
*Unaudited figures

2027 calendar
25 February Full-year 2026 results
13 April         Publication of the 2026 annual and sustainability reports
13 May         Annual Shareholders’ Meeting in Lausanne
19 August     Half-year 2027 results

Banque Cantonale Vaudoise – Contacts
Jean-Pascal Baechler, Press Officer
Tel.: +41 21 212 22 51
Email: jean-pascal.baechler@bcv.ch

Gregory Duong, Investor Relations
Tel.: +41 21 212 20 71
Email: gregory.duong@bcv.ch

The above text is a translation of the original French document; only the French text is authoritative.