Valiant (VATN) Q1 2026 earnings summary

Executive summary

• Total assets increased 0.8% to CHF 38.18bn as of 31 March 2026 compared to year-end 2025.

• Consolidated profit rose 1.5% year-over-year to CHF 33.2m for Q1 2026.

• No significant changes in group accounting principles or extraordinary post-balance sheet events.

Financial highlights

• Net interest income grew 0.9% year-over-year to CHF 97.2m, despite an 11.8% drop in interest and discount income.

• Operating income increased 0.9% to CHF 134.7m, while operating result was up 0.4% to CHF 53.9m.

• Commission business and services income rose 4.6% to CHF 25.8m year-over-year.

• Operating expenses increased 1.4% to CHF 75.7m, mainly due to higher personnel costs.

Outlook and guidance

• No material factors influenced the group’s financial situation during the reporting period or compared with the previous period.