Thurgauer Kantonalbank (TKBP) H1 2025 earnings summary

Executive summary

• Operating profit rose by 5.5% year-over-year, with net profit stable at -0.7% versus H1 2024 and half-year profit at CHF 80.9 million.

• Achieved 1.3% growth in customer loans and 1.6% increase in client assets compared to year-end 2024.

• Strong capital position with a 19.8% capital ratio, well above regulatory requirements.

• Expanded market position in core mortgage business and launched a new pension center to strengthen advisory services.

• Continued focus on core business, digitalization, and sustainability initiatives.

Financial highlights

• Operating income increased by 4.0% to CHF 216.2 million year-over-year.

• Net interest income up 5.1% to CHF 149.3 million; commission and service income up 7.9% to CHF 42.5 million.

• Trading income declined by 8.3% to CHF 21.8 million.

• Operating expenses rose moderately by 1.8% to CHF 98.1 million.

• Net new money inflow of CHF 201 million, with total client assets reaching CHF 27.1 billion.

Outlook and guidance

• Expects full-year operating profit in line with the previous year.

• Ongoing investments in digitalization, advisory services, and sustainability.

• Strategic focus on pension advisory and organizational adjustments for 2026.