Valiant (VATN) Q3 2025 earnings summary

Executive summary

• Consolidated profit rose 3.1% year-over-year to CHF 108.3 million for the first nine months of 2025.

• Growth achieved in both mortgage loans and customer deposits, with new digital and multibanking services introduced.

• Continued focus on simplifying client financial lives and promoting sustainability initiatives.

Financial highlights

• Operating income decreased by 1.5% year-over-year to CHF 411.1 million.

• Operating result fell 3.9% to CHF 170.9 million, while operating expenses increased slightly by 0.4% to CHF 224.8 million.

• Net result from interest operations declined 0.7% to CHF 296.6 million; commission business and services grew 5.9% to CHF 72.0 million.

• Result from trading activities dropped 23.0% to CHF 31.0 million; other result from ordinary activities rose 8.2% to CHF 11.5 million.

• Total assets increased 2.5% to CHF 38.1 billion as of 30 September 2025.

Outlook and guidance

• Consolidated profit for the full year is expected to be slightly higher than the previous year.