BancaStato Group: Profit stable at 47,6 million francs in the first half of 2026

The BancaStato Group closed the first six months of 2026 confirming its financial strength and stable results. In an economic environment characterized by a general leveling of the Swiss National Bank's (SNB) key interest rates, the Ticino-based institution closed the first half of 2026 with a net profit of 47,6 million francs (up 0,8% compared to the same period in 2025).

The overall trend for the period reflects a physiological "normalization" of revenues, which nevertheless remain at historically very high levels and above the average preceding the record two-year periods of 2023-2024.

Revenue and turnover: the financial picture

The Group's net revenues amounted to 152,7 million francs , a decrease of 6,1%. The decline was mainly attributable to the net result from interest operations , which fell by 8,1% to 107,4 million francs due to the impact of SNB interest rates on SARON-rated mortgages.

However, other income statement items recorded significant increases:

• Commission and service transactions: +6,3% (CHF 34,3 million).

• Trading activity: -23,5% (9,2 million CHF).

• Other ordinary results: +14,7% (1,8 million CHF).

Despite operating expenses rising to €96,8 million (+3,6%)—a targeted investment to adapt the organizational structure, risk management, and comply with increasing regulatory requirements—the operating profit stood at €49,1 million. The decision not to make further provisions to the reserves for general banking risks (after over €365,7 million allocated over the last decade) allowed the Group to maintain the stability of its final profit.

Solid balance sheet development: mortgages and assets on the rise

The balance sheet data demonstrate the continuing confidence of private and corporate customers:

• Balance sheet total: reached CHF 20,65 billion (+4,3%).

• Mortgage loans: increased to CHF 13,08 billion (+1,9%, or +248,6 million).

• Customer deposits: increased by 4,0% to CHF 12,76 billion.

• Assets under management reached CHF 25,07 billion (+4,1%), driven by net inflows of CHF 554,4 million.

Statements from the Group's top management

Fabrizio Cieslakiewicz , President of the General Management of BancaStato:

"The results for the first six months of the year are certainly positive and demonstrate the effectiveness of our business model, even in the face of record-low trading margins. Barring any unforeseen circumstances, we believe that the performance of the financial year from now until the end of the year will remain consistent with that observed in the first half, especially given the expected stability of monetary policy."

Raoul Paglia , Chairman of the Executive Board of Axion SWISS Bank Ltd. since July 2026:

"I am very pleased with the significant inflow of new assets, further demonstrating our clients' trust and the solidity of our institution. These results are historically excellent."

Michela Ferrari-Testa , President of the Board of Directors of BancaStato:

"I highlight the great determination and unwavering dedication demonstrated every day by all the Group's professionals. Their work is the true driving force behind our strategies."

Summary of the main financial items (CHF '000)