Valiant (VATN) Investor presentation summary

Strategic positioning and market environment

• Operates in all major Swiss growth regions with 80 locations and a balanced focus on private clients and SMEs.

• Emphasizes simplicity, digitalization, and a strong sustainability strategy.

• Swiss market offers stable mortgage growth, consistent population increase, and rising demand for pension solutions.

• Maintains a low-risk business model with high capital ratios and annual dividend growth.

• Expansion strategy includes new branches in key economic regions and digital service enhancements.

Financial performance and targets

• Consolidated profit increased by 2.9% to CHF 154.7 million in 2025, despite a slight decline in operating income.

• Commission business and services grew by 6.0%, while net interest margin remained high at 109bp.

• Loans and customer deposits both rose by 1.6%, with mortgages up CHF 465 million.

• Dividend proposed to increase to CHF 6.00, maintaining a payout ratio above 50%.

• Share buyback program of up to CHF 75 million to run from 2026 to 2029.

Strategy 2029 and operational focus

• Targets >2% annual loan growth and >5% growth in commission business and services.

• Aims for a cost/income ratio below 55% and RoE above 7%.

• Focuses on digitalization, process simplification, and automation to boost efficiency and client satisfaction.

• Expands digital channels and advisory services, especially for SMEs and pension planning.

• Promotes sustainability by reducing CO2 emissions and increasing diversity in management.