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EarningsQ2 2026 Earnings Report
CH:BCVN Q2 2026 EPS Results
Actual EPSCHF2.62
Consensus EPS―
Beat/Miss―
One Year Ago EPSCHF2.50
CH:BCVN Q2 2026 Revenue Results
Actual RevenueCHF740.10M
Expected RevenueCHF585.50M
Beat/MissBeat by +CHF154.60M
YoY Revenue Growth-1.56%
Earnings Announcement Details
QuarterQ2 2026
Date08/20/2026
TimeBefore Open
Conference CallThursday, August 20, 2026
CH:BCVN Upcoming Earnings
Banque Cantonale Vaudoise's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:BCVN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated solid underlying performance: net profit growth, disciplined cost control, deposit inflows, rising AUM (CHF 142bn) and confirmed ratings. These positives outweigh the challenges highlighted—low-rate pressure on retail margins, RWA-driven slight CET1 dilution, geopolitical caution in trade finance and stronger competition from UBS. Management signaled most IT integration is complete, liquidity and capital metrics remain comfortable, and credit quality (including COVID bridge loan repayments) looks resilient. Overall, the picture is one of stable, constructive execution with manageable headwinds.Company Guidance
Net Profit Growth
Net profit increased by 5% year-on-year to CHF 225 million, driven by diversified revenues and tight cost control.
Revenue and Income Improvements
Total income rose by CHF 14 million. Economic net interest income was CHF 315 million (up CHF 2 million) and trading income (ex-BSM) increased by CHF 1 million to CHF 55 million.
Strong Cost Management
Overall costs (personnel, operating expenses and amortization) were essentially stable, up only about 1%, aided by disciplined cost control and largely completed IT insourcing.
Deposit and Funding Momentum
Customer deposits grew by CHF 1.1 billion (net increase) with aggregate sight and other client deposits up about 3%. Wholesale funding via Pfandbriefe and bonds increased by CHF 700 million.
Assets Under Management and Net New Money
AUM reached CHF 142 billion, with roughly two-thirds of the H1 increase due to market performance and additional gains from net new money, driven notably by institutional inflows.
Wealth Management Deposit Inflows
Wealth management deposits showed strong momentum, up around 10%, driven in part by institutional asset management wins (pension funds reallocating after the UBS/Credit Suisse consolidation).
Mortgage and Business Volume Growth
Business volumes across mortgages, other loans and deposits increased. Mortgage growth remains on track with management's longer-term target (management cites target ~4% p.a. and ongoing population-driven demand).
Credit Quality and COVID Bridge Loan Performance
COVID bridge loans show 93% repayment (83% by customers, 8% by guarantee cooperative). Expected losses materially below original pessimistic assumptions, supporting view of resilient Swiss SME credit quality.
Ratings and Liquidity Strength
S&P and Moody's confirmed ratings. Liquidity metrics (LCR and NSFR) and leverage ratio remain at comfortable, prudent levels. Continued investment into HQLA/liquidity reserves.
CH:BCVN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed