Raiffeisen posts strong half-year results but plans cost cuts

The Raiffeisen Group has announced robust financial results for the first half of 2026, with net profit soaring by 18.9% to 659.3 million francs compared to the same period last year. The Swiss cooperative bank also saw its operating income rise by 7.6% to 2.04 billion francs, while operating expenses increased by 3% to 1.16 billion francs.

Despite this positive performance, Raiffeisen plans to implement cost-saving measures, including a reduction of its workforce by up to 180 full-time equivalents next year. The bank aims to save around 60 million francs in personnel and material costs to sustainably maintain a favorable cost-to-income ratio, which improved to 56.8% from 59.4% at the end of the previous year.

The bank experienced significant inflows of new money, totaling 3.3 billion francs, up from 2.1 billion in the first half of 2025. This, combined with favorable market conditions, led to a 2.7% increase in assets under management, reaching 289.8 billion francs. Raiffeisen also attracted 45,000 new securities deposits.

"We have managed to increase our business volume and considerably increase the result from interest operations, commission operations, and service provision," commented CEO Gabriel Brenna. However, the planned staff reductions have raised questions. A spokesperson indicated that over half of the reduction could be achieved through natural attrition, unfilled positions, reduced use of external staff, and early retirements. Discussions with employee representatives have commenced.