Ad hoc announcement pursuant to Art. 53 LR

BCV Group delivered strong FY 2025 results in a less favorable interest-rate environment. Revenues were stable at CHF 1.15bn. Operating profit and net profit both edged down 2%, to CHF 503m and CHF 430m respectively. At the upcoming Annual Shareholders’ Meeting, the Board of Directors will recommend an ordinary dividend of CHF 4.40 per share.

Revenues of CHF 1.15bn
Total revenues were stable year on year at CHF 1.15bn. Net interest income fell 5% to CHF 526m. Growth in lending volumes, which were up 4%, only partially offset the effects of lower interest rates. Fee and commission income was up 7% to CHF 394m, mainly reflecting favorable financial-market trends and firm personal-banking transaction volumes. Net trading income was unchanged year on year at CHF 195m. Other ordinary income fell 8% to CHF 35m. The Bank’s steady revenue trend testifies to its highly diversified business model.

Operating profit of CHF 503m
Operating expenses were stable at CHF 560m (+1%) on firm cost control. Personnel costs were up 2% to CHF 393m and other operating expenses decreased 2% to CHF 166m. Depreciation and amortization was flat at CHF 82m. Operating profit was off 2% to CHF 503m.

Net profit of CHF 430m
The Bank recorded a tax expense of CHF 74m. Net profit edged down 2% to CHF 430m. The ROE of 11.0% is one of the highest in BCV’s peer group.

Balance sheet growth
Total assets amounted to CHF 61.6bn, up CHF 1.0bn (+2%) on the end-2024 figure. Mortgage lending expanded 4%, or CHF 1.4bn, to CHF 35.6bn, in a dynamic real-estate market. Other loans increased 7% to CHF 6.4bn. On the liabilities side, customer deposits grew 2% to CHF 38.3bn.

Continued net fund inflows
The Group's assets under management rose 8%, or CHF 9.9bn, to CHF 134.1bn. Net new money totaled CHF 3.8bn and came from individuals, SMEs, and institutional clients. Investment performance drove AuM up by CHF 6.1bn. 

Solid financial position
The Bank’s CET1 ratio stood at 18.0% at 31 December 2025 and shareholders’ equity amounted to CHF 4.0bn, 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. ISS ESG has assigned BCV a C rating and placed the Bank in the “Prime” category, while CDP upgraded BCV’s climate rating from B to A– in 2025, placing BCV in the “Leadership” category.

Proposed CHF 379m payout
At the upcoming Annual Shareholders’ Meeting, the Board of Directors will recommend an ordinary dividend of CHF 4.40 per share. If the payout is approved, BCV will distribute CHF 379m to its shareholders. The Canton of Vaud will receive CHF 253.5m in dividends together with CHF 34.7m in cantonal and municipal taxes, for a total of CHF 288.2m.

Lausanne, Switzerland, 12 February 2026

2026 calendar

31 March      Publication of the 2025 annual and sustainability reports
30 April        Annual Shareholders’ Meeting in Lausanne
5 May           Ex-dividend date
6 May          Dividend record date
7 May          Dividend payment
20 August    Half-year 2026 results

Banque Cantonale Vaudoise – Contacts
Jean-Pascal Baechler, Press Officer
Tel.: +41 21 212 22 51Email: 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.