Valiant (VATN) Q3 2024 earnings summary

Executive summary

• Total assets increased by 1.9% to CHF 36.75 billion as of 30 September 2024, driven by growth in mortgage loans and financial investments.

• Consolidated profit rose 5.3% year-over-year to CHF 104.99 million for the nine-month period.

Financial highlights

• Net interest income declined 1.3% year-over-year to CHF 298.58 million, as higher interest expense offset gains in interest income.

• Operating income grew 2.6% to CHF 417.44 million, supported by strong trading and commission results.

• Operating expenses increased 1.4% to CHF 223.83 million, mainly due to higher general and administrative costs.

• Mortgage loans expanded by 1.7% to CHF 28.68 billion compared to year-end 2023.

• Financial investments surged 59.5% to CHF 1.74 billion since 31 December 2023.

Outlook and guidance

• No material factors or extraordinary events are expected to impact the group’s financial position post-reporting date.