Banks BLKB posts lower profit figures after Radicant debacle
Basellandschaftliche Kantonalbank (BLKB) felt the effects of the debacle surrounding the online bank Radicant last year. The state-owned institution recorded a decline in profits and released bank reserves.
26.03.2026, 07:45
SDA
The distribution to the canton and shareholders remains at the previous year's level. The BLKB Group's operating profit as a measure of the operating result fell by around 40 percent to CHF 122.3 million in 2025, as can be seen from the figures published on Thursday. The bottom line was a 7.1 percent lower annual profit of CHF 154.5 million.
Dividends unchanged
The exit from the online subsidiary Radicant had a negative impact of 102.2 million francs on the Group result last year, as BLKB writes. This was partially offset by the release of bank reserves amounting to CHF 50 million.
The holders of BLKB certificates will nevertheless receive a dividend of CHF 42 per share, the same as in the previous year. The distribution to the canton of Basel-Landschaft will also remain practically the same as the previous year: the bank's main shareholder will receive a profit transfer and compensation for the state guarantee amounting to CHF 71.7 million, compared to CHF 72.8 million in the previous year.
Total charges of around 190 million
BLKB wanted to attract customers throughout Switzerland for sustainable investments with its subsidiary Radicant, which was launched in 2021. After customer numbers fell short of expectations and following the failed takeover of fintech Numarics, the bank's management decided to liquidate Radicant at the end of 2025.
From the launch of the online bank to the completion of the liquidation, the total costs for the Radicant adventure are likely to amount to 180 to 190 million francs, as BLKB writes. The costs required for the investments made and the planned liquidation of Radicant are fully taken into account in the 2025 financial statements.
New management personnel
The events surrounding Radicant have also led to strong reactions from politicians in Basel. In particular, the Basel-Landschaft cantonal council now wants to have the events surrounding the Numarics takeover investigated by a parliamentary commission of inquiry (PUK). The financial market supervisory authority Finma has also initiated an investigation.
BLKB CEO John Häfelfinger and Chairman of the Bank Council Thomas Schneider resigned following the events last summer, and both positions are currently being filled on an interim basis. The pending personnel decisions are now to be resolved soon: The successors for the vacant CEO position and for the chairmanship of the Bank Council will be chosen "in the coming weeks", according to reports.
Operating income up
Meanwhile, the Cantonal Bank was able to grow its ordinary business in 2025: Overall, operating income rose by 4.6 percent to 499.1 million francs. In the important interest business, net income increased only slightly by 0.3 percent to 344.3 million francs.
In the mortgage business, meanwhile, the bank was slow to make progress. Mortgage receivables increased by a slight 0.6 percent to 24.6 billion francs.
BLKB was again able to grow in the commission and services business (+5.6% to CHF 97.4 million). It was able to benefit from a positive market trend as well as a good sales performance, as it writes. Net trading income was also significantly higher than in the previous year.
Restraint for 2026
The bank is cautious about the current year 2026, not least due to the "uncertain geopolitics". Overall, however, BLKB expects "slightly lower business performance" in the current financial year compared to the previous year - excluding "special effects".
