Luzerner Kantonalbank (LUKN) investor relations material

Executive summary

• Consolidated profit for Q1 2026 rose 4.5% year-over-year to CHF 80.1 million, exceeding internal forecasts.

• Operating income increased 5.0% to CHF 182.6 million, driven by both interest and non-interest income.

• Operating result increased by 3.5% compared to the same quarter last year, reaching CHF 90.0 million.

• The bank maintained strong profitability despite negative geopolitical events and a challenging environment.

• Parent company profit grew 4.3% year-over-year to CHF 78.9 million.

Financial highlights

• Net interest income grew 4.1% year-over-year to CHF 118.4 million.

• Non-interest income rose 6.7% to CHF 64.2 million, with commission and service business up 10.7% to CHF 38.6 million.

• Trading activities result declined 4.9% to CHF 23.5 million, though it was above budget.

• Operating expenses increased 5.8% to CHF 83.9 million, reflecting higher personnel and administrative costs.

• Cost-income ratio improved to 45.3%, below the strategic target of 50%.

Outlook and guidance

• Minimum consolidated profit target for 2026 remains at CHF 295 million.

• Net growth targets: asset management/advisory mandates above CHF 1.2 billion, lending business 3.5%-5.5%.

• Non-interest income target set above CHF 240 million; cost-income ratio to remain below 50%.

• Guidance assumes limited impact from geopolitical conflicts.

• No explicit forward-looking statements or guidance provided for future quarters.