Banque Cantonale de Genève (BCGE) posted a net profit of 118.6 million Swiss francs in the first half of 2026. This represents an increase of 26.2 percent compared with the same period last year and, according to the bank’s statement on Tuesday, marks a new record.

Operating profit also rose sharply, climbing 24.7 percent to 138.3 million francs. Operating income increased by 12.3 percent to 310.5 million francs.

The figures mark a significant turnaround from the previous year. In the first half of 2025, net profit had fallen 18.9 percent to 94 million francs, weighed down by margin pressure in the interest business.

Interest Business Recovers

In 2026, the interest business has once again become an important contributor to growth. Net interest income rose 10.1 percent to 181 million francs. The commission business also performed well, with income increasing 11.1 percent to 85 million francs. Trading income likewise rose 11.1 percent to 23 million francs.

Growth was therefore spread more broadly across the bank’s main revenue streams than in the previous year.

Assets Cross 40 Billion Franc Mark

BCGE also recorded growth in asset management. Client assets under management rose 3.7 percent, or around 1.5 billion francs, from the end of 2025 to 41.9 billion francs. At the halfway point of last year, assets under management had stood at 37.1 billion francs.

According to the bank, the increase was driven by net new money and positive market developments. Discretionary mandates, cooperation with independent asset managers and online trading performed particularly strongly.

Lending Expands

The financing business continued to grow as well. Total loans to companies and private clients reached 21.8 billion francs, an increase of 2.1 percent from the end of 2025. Of this amount, 15.4 billion francs related to mortgages and 6.4 billion francs to other customer loans. Mortgage lending alone increased by 3.1 percent.

BCGE now serves more than 258,000 clients, including 23,577 companies.

Costs Rise at a Slower Pace

While revenues grew at a double-digit rate, operating expenses increased by just 3.3 percent to 156.9 million francs. As a result, the cost-income ratio improved to 50.5 percent. Return on equity increased from 8.05 percent to 9.48 percent. The number of full-time positions rose marginally by 14 to 972.

Capital Base Remains Solid

Equity increased by 2.6 percent from the end of 2025 to just under 2.6 billion francs.

The consolidated capital ratio edged down to 16.5 percent but remained well above the regulatory minimum of 12.7 percent. The Tier 1 capital ratio stood at 15.83 percent.

Shares Gain Ground

BCGE shares also performed positively. At the end of June, the stock traded at 34 francs, equivalent to around 95 percent of the book value per share of 35.60 francs. In the previous year, the share price had traded at a significantly larger discount to book value.

More Optimistic Outlook

The turnaround from 2025 is also reflected in the bank’s outlook. Last year, BCGE had explicitly warned that difficult interest-rate conditions and a weaker economy were likely to result in lower annual earnings.

For 2026, the bank now expects to exceed the previous year’s result.