Information on the balance sheet

8 Information on the balance sheet

8.1 Securities financing transactions (assets and liabilities)

Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024	Change
Book value of receivables from cash collateral delivered in connection with securities borrowing and reverse repurchase transactions¹⁾	0	0	0
Book value of obligations from cash collateral delivered in connection with securities lending and repurchase transactions¹⁾	2,571,911	3,861,798	– 1,289,887
Book value of securities lent in connection with securities lending or delivered as collateral in connection with securities borrowing as well as securities in own portfolio transferred in connection with repurchase agreements	2,617,412	3,957,324	– 1,339,911
of which, with unrestricted right to resell or pledge	2,617,412	3,957,324	– 1,339,911
Fair value of securities received and serving as collateral in connection with securities lending or securities borrowed in connection with securities borrowing as well as securities received in connection with reverse repurchase agreements with an unrestricted right to resell or pledge	61,175	92,968	– 31,793
of which, repledged securities	0	0	0
of which, resold securities	55,948	88,166	– 32,219

1)Before taking into account any netting agreements

8.3 Trading portfolios and other financial instruments at fair value (assets and liabilities)

	Book value
Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024	Change
Assets
Debt securities, money market securities / transactions	308,625	326,089	– 17,465
of which, listed	303,920	316,262	– 12,342
Equity securities	1,266,542	1,096,569	169,974
Precious metals	1,809	1,238	570
Cryptocurrencies	0	0	0
Other trading portfolio assets	115,944	65,302	50,642
Total trading portfolio assets	1,692,920	1,489,198	203,722
Structured products	0	0	0
Total other financial instruments at fair value	0	0	0
Total assets	1,692,920	1,489,198	203,722
of which, determined using a valuation model	0	0	0
of which, securities eligible for repo transactions in accordance with liquidity requirements	166,369	242,985	– 76,616
Liabilities¹⁾
Debt securities, money market securities / transactions	55,948	88,166	– 32,218
of which, listed	55,948	88,166	– 32,219
Equity securities	1	0	0
Precious metals and commodities	0	0	0
Cryptocurrencies	0	0	0
Other trading portfolio liabilities	0	0	0
Total trading portfolio liabilities	55,949	88,167	– 32,218
Structured products	927,691	695,172	232,519
Total liabilities from other financial instruments at fair value	927,691	695,172	232,519
Total liabilities	983,640	783,339	200,301
of which, determined using a valuation model	927,691	695,172	232,519

1)For short positions (posting according to the closing date principle)

8.2 Collateral for loans/receivables and off-balance-sheet transactions / impaired loans/receivables

Collateral for loans/receivables and off-balance-sheet transactions

Amounts in 1,000 Swiss francs	Mortgage collateral	Other collateral	Unsecured	Total
Loans (before netting with value adjustments)
Amounts due from clients	490,263	2,263,058	2,804,781	5,558,102
Mortgage loans	40,996,311	0	6 417¹⁾	41,002,729
Residential property	33,873,269	0	4,436	33,877,705
Office and business premises	4,925,931	0	1,000	4,926,931
Commercial and industrial premises	892,852	0	467	893,319
Other	1,304,259	0	515	1,304,774
Total loans (before netting with value adjustments)	41,486,574	2,263,058	2,811,198	46,560,831
Share as %	89.1	4.9	6.0	100.0
Previous year	38,924,324	1,978,860	2,657,617	43,560,801
Share as %	89.4	4.5	6.1	100.0
Value adjustments	0	0	208,203	208,203
Total loans (after netting with value adjustments)	41,486,574	2,263,058	2,602,995	46,352,628
Share as %	89.5	4.9	5.6	100.0
Previous year	38,924,324	1,978,860	2,470,832	43,374,016
Share as %	89.7	4.6	5.7	100.0
Off-balance-sheet transactions
Contingent liabilities	39,769	111,725	147,454	298,948
Irrevocable commitments	526,656	310,404	1,558,972	2,396,031
Obligations to pay up shares and make further contributions	0	0	101,691	101,691
Credit commitments	0	0	0	0
Total off-balance-sheet transactions	566,424	422,129	1,808,117	2,796,670
Previous year	476,733	429,317	1,522,850	2,428,901

1)These are value-adjusted items.

Impaired loans

Amounts in 1,000 Swiss francs	Gross debt amount	Estimated liquidation value of collateral	Net debt amount	Individual value adjustments
Impaired loans	232,555	73,838	158,717	119,275
Previous year	192,797	75,720	117,077	103,537

Individual value adjustments do not fully cover the net amount owed if a portion of it is considered to still be recoverable.

Non-performing loans

Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024	Change
Loans to customers	79,684	55,585	24,099
Total non-performing receivables	79,684	55,585	24,099

For a definition of overdue receivables, see Section 4 ‘Methods used for identifying default risks and determining the need for value adjustments and provisions‘. In particular, a distinction must be made between impaired loans/receivables and overdue loans/receivables. If a receivable is overdue, this may be an indication of a risk. However, if the amount of the loan/receivable is satisfactorily covered, no value adjustment is necessary.

8.4 Derivative financial instruments (assets and liabilities)

Breakdown by contract type

	Trading instruments			Hedging instruments
Amounts in 1,000 Swiss francs	Positive replacement values	Negative replacement values	Contract volume	Positive replacement values	Negative replacement values	Contract volume
Interest rate instruments	38,283	46,294	2,051,788	116,840	142,283	11,664,310
Forward contracts including FRAs	0	0	0	0	0	0
Swaps	38,283	46,294	2,030,803	116,840	142,283	11,664,310
Tom Next Indexed Swaps (TOIS)	0	0	0	0	0	0
Caps / Floors / Collars	0	0	0	0	0	0
Options (OTC)	0	0	0	0	0	0
Options (exchange-traded)	0	0	0	0	0	0
Futures	0	0	20,985	0	0	0
Foreign exchange / precious metals	37,774	31,614	8,611,132	0	0	0
Forward contracts	36,238	30,831	8,397,563	0	0	0
Combined interest rate / currency swaps	0	0	0	0	0	0
Futures	0	0	0	0	0	0
Options (OTC)	1,536	783	213,568	0	0	0
Options (exchange-traded)	0	0	0	0	0	0
Equity securities / indices	65,888	175,107	3,211,996	0	0	0
Forward contracts	0	0	0	0	0	0
Swaps	0	0	0	0	0	0
Futures	0	0	2,082	0	0	0
Options (OTC)	57,696	40,087	1,827,380	0	0	0
Options (exchange-traded)	8,192	135,021	1,382,534	0	0	0
Credit derivatives	114	1,174	36,894	0	0	0
Credit default swaps	114	1,174	36,894	0	0	0
Total return swaps	0	0	0	0	0	0
First-to-default swaps	0	0	0	0	0	0
Other credit derivatives	0	0	0	0	0	0
Other derivative financial instruments	473	473	4,232	0	0	0
Forward contracts	0	0	0	0	0	0
Swaps	0	0	0	0	0	0
Futures	0	0	0	0	0	0
Options (OTC)	0	0	0	0	0	0
Options (exchange-traded)	473	473	4,232	0	0	0
Total before netting agreements	142,532	254,662	13,916,041	116,840	142,283	11,664,310
of which, determined using a valuation model	133,867	119,168	–	116,840	142,283	–
Previous year	274,104	293,896	13,652,134	142,436	187,050	10,663,453
of which, determined using a valuation model	263,057	190,382	–	142,436	187,050	–
	Positive replacement values		Negative replacement values		Contract volume
Total after netting agreements		89,613		176,627		25,580,351
Previous year		174,381		190,445		24,315,587

FRA = Forward rate agreement

OTC = Over the counter

RV = Replacement values

Breakdown by counterparty

Amounts in 1,000 Swiss francs	Central clearing houses	Banks and securities firms	Other customers
Positive replacement values (after netting agreements)	271	7,787	81,555
Previous year	0	54,489	119,891

8.5 Financial investments

Breakdown by contract type

	Book value		Fair value
Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024	31.12.2025	31.12.2024
Debt securities	4,886,181	4,749,301	4,909,396	4,782,163
of which, intended to be held to maturity	4,868,666	4,730,490	4,890,493	4,762,470
of which, not intended to be held to maturity (available for sale)	17,515	18,811	18,903	19,693
Equity securities	403,920	404,386	462,615	447,101
of which, qualified participations¹⁾	0	0	0	0
Money market securities	0	0	0	0
Precious metals	0	0	0	0
Real estate	0	0	0	0
Total financial investments	5,290,101	5,153,687	5,372,011	5,229,265
of which, securities eligible for repo transactions in accordance with liquidity requirements	4,727,180	4,624,854	–	–

1)At least 10% of the capital or votes

Breakdown of counterparties by rating

Amounts in 1,000 Swiss francs	Very good to good credit rating (AAA bis AA-)	Good to satisfactory credit rating (A+ bis A-)	Satisfactory credit rating (BBB+ bis BBB-)	Sufficient credit rating (BB+ bis BB-)	Deficient credit rating (B+ bis B-)	Insufficient credit rating (CCC+ bis CCC-)	Without rating
Book values of debt securities¹⁾	4,550,959	270,523	42,067	0	0	750	21,882
Previous year	4,623,632	48,954	20,013	0	0	1,200	55,501

1)Incl. money market securities

The classification into the different rating classes was carried out using a model based on external ratings. The ratings classes corresponding to the ratings of Standard & Poor's are shown in brackets.

8.6 Participations

Overview of non-consolidated participations

Amounts in 1,000 Swiss francs	Cost value	Accumulated value adjustments / changes in book value (equity valuation)	Book value as of 31.12.2024	Additions	Disposals	Value adjustments	Changes in book value for participations using the equity method / depreciation reversals	Book value as of 31.12.2025
Participations without market value	35,523	– 6,478	29,045	481	0	– 1,423	240	28,343
of which, valued using the equity method	2,069	1,791	3,860	0	0	0	240	4,100
of which, other participations	33,454	– 8,269	25,185	481	0	– 1,423	0	24,243
Total non-consolidated participations	35,523	– 6,478	29,045	481	0	– 1,423	240	28,343

Participations sold in the previous year are no longer included in the cost of acquisition and in the value adjustments accumulated to date.

Disclosures on significant participations

				Share in %
Company name	Domicile	Business activity	Share capital in 1,000 Swiss francs	Share capital 31.12.2025	Voting rights 31.12.2025
Fully consolidated participations
LUKB Expert Fondsleitung AG	Lucerne	Fund management	5,000	100.0	100.0
Participations valued using the equity method
RSN Risk Solution Network AG	Lucerne	Financial services	4,500	33.3	33.3
FG Next Holding AG	Zurich	Financial services	373	26.8	26.8
Participations in joint arrangements¹⁾
Pfandbriefzentrale der schweizerischen Kantonalbanken AG	Lucerne	Pfandbrief institution	2 225 000²⁾	4.3	4.3
Viseca Payment Services AG	Zurich	Financial services	25,000	2.7	2.7

1)With an ownership stake ≥ 2 % and a capital interest of LUKB ≥ 0.5 million Swiss francs

2)Of which paid-in: 20% i.e. 445 million Swiss francs

The shareholding also corresponds to the share of voting rights, as none of the listed companies holds voting shares. All votes are held directly. In addition to the significant parand ownership interests in joint ventures listed above, there are also investments in local assets.

8.7 Tangible fixed assets

Amounts in 1,000 Swiss francs	Cost value	Accumulated depreciation	Book value as of 31.12.2024	Reclassifications	Additions	Disposals	Depreciation	Reversals	Book value as of 31.12.2025
Real estate	405,345	– 186,808	218,537	0	3,988	0	– 8,762	0	213,763
of which, bank buildings	370,303	– 184,101	186,202	31	3,935	0	– 8,358	0	181,810
of which, other real estate	35,042	– 2,707	32,335	– 31	53	0	– 404	0	31,953
Other tangible fixed assets	33,920	– 33,920	0	0	20,164	0	– 20,164	0	0
Total tangible fixed assets	439,265	– 220,728	218,537	0	24,152	0	– 28,926	0	213,763
Liabilities:
Leasing obligations not recognised in the balance sheet
(Operating lease)¹⁾

1)There are lease agreements for business premises (branches) with remaining terms of more than one year, which the bank does not treat as operating leases.

Tangible fixed assets sold or liquidated in the previous year are no longer included in the acquisition value or the depreciation accumulated to date.

8.8 Other assets and liabilities

Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024
Other assets
Offset account	1,495	43,667
Indirect taxes	20,227	9,974
Settlement accounts	2,850	1,808
Other assets	2	0
Total other assets	24,574	55,449
Other liabilities
Offset account	0	0
Indirect taxes	9,116	33,241
Settlement accounts	4,978	15,896
Unredeemed coupons, cash bonds and bond issues	3,130	3,126
Other liabilities	0	2
Total other liabilities	17,223	52,265

8.9 Assets pledged or assigned to secure own commitments / assets under reservation of ownership

	31.12.2025		31.12.2024
Amounts in 1,000 Swiss francs	Book value	Effective commitment	Book value	Effective commitment
Liquid assets¹⁾	69,097	69,097	68,992	68,992
Amounts due from banks	198,478	198,478	202,728	202,054
Amounts due from clients	505	505	29,872	31,539
Own securities	240,502	23,451	230,454	31,308
Pledged or assigned mortgage loans to secure central mortgage institution loans	11,190,068	8,525,000	11,271,419	7,821,000
Total pledged / assigned assets	11,698,651	8,816,531	11,803,465	8,154,894
Total assets under reservation of ownership	0	0	0	0

1)Pledged or assigned liquid funds to secure the 50% payment obligation to esisuisse in connection with deposit insurance.

Securities serving as collateral for which the right to resell or pledge has been granted as part of the securities financing transaction are shown in Section 8.1 ‘Securities financing transactions (assets and liabilities)’.

8.10 Commitments relating to own pension institutions / equity instruments of the bank held by own pension institutions

Commitments relating to own pension funds

Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024	Change
Amounts due in respect of customer deposits	18,363	22,722	– 4,359
Total commitments relating to Pension Fund of Luzerner Kantonalbank	18,363	22,722	– 4,359

These liabilities arise from investments within the Group by Luzerner Kantonalbank's pension fund.

Own shares with own pension institutions

Numbers of shares		31.12.2025		31.12.2024		Change
Pension Fund of Luzerner Kantonalbank		0		0		0

8.11 Economic situation of own pension institutions

Employer contribution reserves

			Net amount		Effect of employer contribution reserves on personnel expenses
Amounts in 1,000 Swiss francs	Nominal value	Waiver of use	31.12.2025	31.12.2024	2025	2024
Pension funds	0	0	0	0	0	0
Total employer contribution reserves	0	0	0	0	0	0

Economic benefit/obligations and pension expenses

	Over- / underfunding	Economic interest of the bank		Change in economic interest versus	Contributions paid	Pension expenses in personnel expenses
Amounts in 1,000 Swiss francs	31.12.2025	31.12.2025	31.12.2024	previous year	2025	2025	2024
Pension plans without overfunding / underfunding¹⁾	0	0	0	0	20,616	20,616	19,883
Total	0	0	0	0	20,616	20,616	19,883

1)In the financial statements of the Pension Fund of Luzerner Kantonalbank prepared in accordance with Swiss GAAP FER 26, the coverage ratio as of 31 December 2025 amounts to 128.1 % (previous year 127.4 %). Accordingly, the fluctuation reserves – unlike in the previous year – have reached the target value of 25.6 %. Careful assessment has shown that, despite the free capital, there are no economic effects for the bank.

8.12 Issued structured products

	Book value
	Valued as a whole		Valued separately
Amounts in 1,000 Swiss francs Underlying risk of the embedded derivative	Booked in trading portfolio	Booked in other financial instruments at fair value	Value of the underlying instrument	Value of the derivative	Total
Interest rate instruments
with own debenture component (oDC)	–	0	0	0	0
without oDC	0	0	0	0	0
Equity securities
with own debenture component (oDC)	–	927,691	1,164,123	49,656	2,141,470
without oDC	0	0	0	0	0
Foreign currencies
with own debenture component (oDC)	–	0	29,848	117	29,965
without oDC	0	0	0	0	0
Commodities / precious metals
with own debenture component (oDC)	–	0	104	0	104
without oDC	0	0	0	0	0
Total issued structured products	0	927,691	1,194,075	49,773	2,171,539
Previous year	0	695,172	1,022,212	71,825	1,789,209

8.13 Bonds / mandatory convertible bonds

Overview of outstanding bonds and central mortgage institution loans

Amounts in million Swiss francs	Amount outstanding	Weighted average interest rate	Maturities
Bond issues (Issuer: Luzerner Kantonalbank AG)	8,334
of which, non-subordinated	6,774	1.015 %	2027 bis 2071
of which, subordinated without PONV clause²⁾	–	–	–
of which, subordinated with PONV clause²⁾	1,560	1.583 %	2031 bis unbefristet
of which, subordinated Additional Tier 1 bonds	960	2.208 %	unbefristet
of which, subordinated Tier 2 bonds	600	1.050 %	2031 bis 2037
Central mortgage institution loans	8,525	0.799 %	2026 – 2046
Funding component of structured products³⁾	1,194	0.340 %	2026 – 2029

1)Maturities refers to the contractual maturity date of the individual bonds, whereas the bank may have contractual rights to early termination for individual bonds.

2)PONV clause = Point of no viability

3)Value of the underlying instruments according to the table «Issued structured products»

Maturity structure of outstanding bonds and central mortgage institution loans

Amounts in million Swiss francs	2026	2027	2028	2029	2030	after 2030	Total
Bonds	–	475	450	100	475	6,834	8,334
Central mortgage institution loans	442	647	1,012	780	909	4,735	8,525
Funding component of structured products¹⁾	924	238	31	0	–	–	1,194
Total	1,366	1,360	1,493	880	1,384	11,569	18,053

1)Value of the underlying instruments according to the table «Issued structured products»

8.14 Value adjustments and provisions / reserves for general banking risks

Amounts in 1,000 Swiss francs	Balance as of 31.12.2024	Use in conformity with designated purpose	Reclassifications	Past due interest, recoveries	Additions charged to income statement	Reversals credited to income statement	Balance as of 31.12.2025
Provisions for pension obligations	710	– 106	–	–	0	0	604
Provisions for default risks¹⁾	16,649	0	– 2,948	0	615	– 805	13,511
of which, for probable liabilities (in accordance with Art. 28 para. 1 FINMA AO)	16,649	0	– 2,948	0	41	– 805	12,937
Specific provisions for customer loans	16,649	0	– 2,948	0	12	– 786	12,927
Lump-sum individual provisions	0	0	0	0	29	– 19	10
of which, for inherent risks of default	0	0	0	0	574	0	574
provisions for inherent risks of default	0	0	0	0	574	0	574
Provisions for restructuring	2,119	– 212	–	0	0	0	1,907
Other provisions	10,886	– 785	0	43	760	– 82	10,822
Total provisions	30,364	– 1,103	– 2,948	43	1,375	– 887	26,844
Reserves for general banking risks²⁾	694,354	–	0	–	0	0	694,354
Value adjustments for default and country risks	194,224	– 5,820	2,948	1,663	34,287	– 16,773	210,530
of which, for default risks in respect of impaired loans / financial investments	110,923	– 5,820	2,948	1,663	28,639	– 16,773	121,581
Specific value adjustment – banks	0	0	0	0	0	0	0
Specific value adjustment – customer loans	102,728	– 1,803	2,948	1,280	27,894	– 14,446	118,602
Specific value adjustment – interest	631	0	0	384	0	– 477	538
Lump-sum individual value adjustment	177	– 256	0	0	295	– 82	135
Credit-related specific value adjustments – financial investments	7,386	– 3,761	0	0	450	– 1,769	2,306
of which, for inherent risks of default	83,301	0	0	0	5,648	0	88,949
Value adjustments for inherent risks of default	83,301	0	0	0	5,648	0	88,949

1)For potential cash outflows related to off-balance sheet transactions

2)The reserves for general banking risks are subject to taxation.

8.15 Share capital

	31.12.2025			31.12.2024
Amounts in 1,000 Swiss francs	Total par value	Quantity	Dividend-bearing capital	Total par value	Quantity	Dividend-bearing capital
Share capital, fully paid-in	183,458	49,583,333	183,458	183,458	49,583,333	183,458

8.16 Equity rights and options allocated to the Executive Board, the Board of Directors and employees

	2025		2024
	Equity securites		Equity securites
Amounts in 1,000 Swiss francs	Number	Amount	Number	Amount
Members of the Board of Directors¹⁾	n.a.²⁾	465,500	8,448	407 616³⁾
Executive Board members	19,354	1,222,786	26,534	1,191,642
Employees	188 296⁴⁾	10,601,588	22,848	1,321,781
Total	n.a.	12,289,873	57,830	2,921,039

1)The remunerations of the members of the Board of Directors relate to the periods AGM 2025 to AGM 2026 (14 April 2025 to 13 April 2026) and AGM 2024 to AGM 2025 (15 April 2024 to 14 April 2025).

2)The Board of Directors receives 50% of the proposed remuneration (total remuneration for the term AGM 2025 to AGM 2026: 931,000 Swiss francs) in shares blocked for at least six years (blocking period until 30 April 2032). 50% of the Board’s remuneration is paid in shares at the applicable tax value, with the number of shares rounded up to the nearest whole number. The relevant valuation for the equity rights recognised in the 2025 financial year is determined based on the volume-weighted average price for the period from 1 March 2026 to 13 April 2026. The exact number of allocated shares will be disclosed in the financial report 2026.

3)The shares allocated to the Board of Directors last year as part of the remuneration after the AGM 2025 were determined based on the volume-weighted average price for the period from 1 March 2025 to 14 April 2025, with the number of shares at the applicable tax value rounded up to the nearest whole number. The exact number was not yet known at the time of publication of the financial report 2024. Consequently, there are minor differences compared with the figures reported last year.

4)At periodic intervals, employees are offered the opportunity on a voluntary basis to acquire blocked registered shares of Luzerner Kantonalbank AG at preferential conditions. In 2025, 169,648 registered shares of Luzerner Kantonalbank AG with a price of 63.70 Swiss francs (average price for the month of december 2024) were purchased by employees at 45.00 Swiss francs. The discount of approximately 3.2 million Swiss francs is included in personnel expenses (partially accrued in previous years).

Members of the Board of Directors, the Executive Board and the second management level receive a defined portion of their compensation in the form of registered shares of Luzerner Kantonalbank AG that are blocked for several years. Details can be found in the Compensation Report.

8.17 Related parties

	Due from		Due to
Amounts in 1,000 Swiss francs	31.12.2025	31.12.2024	31.12.2025	31.12.2024
Holders of qualified participations¹⁾	6,823	40,317	31,748	327
Linked companies²⁾	194,790	208,408	209,491	208,542
Transactions with members of governing bodies	13,135	11,327	14,377	13,578
Other related parties³⁾	26,350	25,156	2,844	2,751

1)Canton of Lucerne

2)Public-law institutions of the Canton of Lucerne or mixed-economy enterprises in which the Canton of Lucerne holds a significant stake.

3)These are receivables and obligations towards legal entities closely related to the bank’s governing bodies.

Related parties include significant shareholders,the Executive Board, Board of Directors and auditors as well as associated companies and persons.

Transactions with related parties

Current and retired employees (including members of the Executive Board) and their family members living in the same household are eligible for generally-limited preferential conditions, as is customary in the industry. With the exception of the registered shares of Luzerner Kantonalbank AG deposited with LUKB without fees by the Canton, transactions are conducted for all related parties under the same terms that apply to third parties. Transactions include the granting of loans and credit, interest on deposits, account management, payments and securities transactions, etc.

Companies with close ties to members of the Board of Directors can participate in tenders for LUKB contracts. The member of the governing body concerned has no privileges when awarding the contract and is not represented in the decision-making process (abstention). During the reporting year and in the previous year, no contracts were awarded to related parties of members of the Board of Directors at terms other than what is customary in the market.

8.2 Maturity structure of financial instruments

Amounts in millions Swiss francs	At sight	Cancellable	Due within 3 Months	Due within 3 to 12 months	Due within 12 months to 5 years	Due after 5 years	No maturity	Total
Current assets
Liquid assets	7,728.8	69.1¹⁾	–	–	–	–	–	7,797.9
Amounts due from banks	475.5	0.0	78.1	70.0	35.0	0.0	–	658.6
Amounts due from clients	37.8	639.2	1,985.1	847.1	1,550.7	375.0	–	5,434.9
Mortgage loans	0.1	1,561.0	4,449.5	5,894.8	22,089.5	6,922.7	0.0	40,917.7
Trading portfolio assets	1,692.9	0.0	–	–	–	–	–	1,692.9
Positive replacement values of derivative financial instruments	89.6	0.0	–	–	–	–	–	89.6
Financial investments	421.4	0.0	45.2	253.0	2,136.3	2,434.2	0.0	5,290.1
Total current assets	10,446.2	2,269.3	6,557.9	7,064.9	25,811.5	9,731.9	0.0	61,881.7
Previous year	10,539.4	1,898.8	5,945.5	5,771.1	23,996.4	10,599.0	0.0	58,750.1
Dept capital
Amounts due to banks	242.5	9.4	3,967.0	1,447.4	40.0	0.0	–	5,706.2
Amounts due to securities financing transactions	0.0	0.0	2,571.9	0.0	0.0	0.0	–	2,571.9
Amounts due in respect of customer deposits	15,991.8	9,741.5	2,528.4	1,141.9	550.5	55.5	–	30,009.6
Trading portfolio liabilities	55.9	0.0	–	–	–	–	–	55.9
Negative replacement values of derivative financial instruments	176.6	0.0	–	–	–	–	–	176.6
Liabilities from other financial instruments at fair value	927.7	0.0	–	–	–	–	–	927.7
Cash bonds	–	–	18.8	68.4	107.0	12.0	–	206.2
Bond issues and central mortgage institution loans	–	–	197.6	1,168.9	5,112.4	11,574.1	–	18,053.0
Total debt capital	17,394.6	9,750.8	9,283.7	3,826.7	5,809.9	11,641.7	–	57,707.3
Previous year	14,150.0	10,155.9	10,917.5	4,032.6	4,408.5	11,074.7	0.0	54,739.2

1)Relates to securing half of the payment obligation to esisuisse in connection with the deposit protection scheme.

8.18 Significant shareholders

	31.12.2025		31.12.2024
Amounts in 1,000 Swiss francs	Par value	Share as %	Par value	Share as %
Canton of Lucerne	112,786	61.5	112,786	61.5
Total significant shareholders	112,786	61.5	112,786	61.5

8.21 Assets by credit rating of country groups (risk domicile)

Amounts in 1,000 Swiss francs	31.12.2025		31.12.2024
Rating¹⁾	Amount	Share as %	Amount	Share as %
Switzerland	59,891,296	96.21	57,047,027	96.44
0 / «High Income»	2,275,294	3.66	2,043,273	3.45
1	–	n.a.	–	n.a.
2	40,269	0.06	29,459	0.05
3	22,816	0.04	21,654	0.04
4	2,872	0.00	717	0.00
5, 6	7,749	0.01	5,719	0.01
7	184	0.00	98	0.00
Not rated	8,650	0.01	6,141	0.01
Total foreign exposure	2,357,834	3.79	2,107,061	3.56
Not attributable to any country²⁾	0	0.00	4	0.00
Total assets	62,249,130	100.00	59,154,092	100.00

1)Ratings of SERV (Swiss Export Risk Insurance)

2)These are assets in cryptocurrencies.

SERV deems rating to be the OECD's classification of countries in the SC 0 to SC 7 and ‘high income’ categories. SC 0 stands for the lowest risk and SC 7 for the highest risk. The ‘high income’ category includes the high-income OECD countries and the high-income eurozone countries that are not classified by their risk.

8.19 Own shares

	2025		2024
Own shares (registered)	Quantity	Average transaction price in Swiss francs	Quantity	Average transaction price in Swiss francs
	Shares with nominal value 3.70 CHF		Shares with nominal value 3.70 CHF
Number of shares as of 01.01.	263,496	–	273,104	–
+ Purchase of own shares	36,627	69.41	64,780	68.35
– Sale of own shares^{1), 2)}	– 236,115	70.00	– 74,388	70.16
Number of shares as of 31.12.³⁾	64,008	–	263,496	–

1)Of which, 57,830 compulsory shares were associated with share-based compensation in 2025.

2)In 2025, a loss of 13,153 Swiss francs was generated on the trading portfolio and 1,365,316 Swiss francs on the rest of the portfolio (likewise included in the capital reserve). In 2024, a profit of 72,265 Swiss francs was generated on the trading portfolio and 52,382 Swiss francs on the rest of the portfolio (likewise included in the capital reserve).

3)On 31 December 2025, 27,062 own shares with a nominal value of 3.70 Swiss francs each (previous year: 30,595 own shares with a nominal value of 3.70 Swiss francs each) were held to hedge self-issued structured products (tracker certificates).

No options have been allocated for the 2024 and 2025 financial years, and there are no outstanding options.

8.22 Assets and liabilities by main currencies

	Currencies, translated in CHF
Amounts in millions Swiss francs	CHF	EUR	USD	Other	Total
Assets
Liquid assets	7,790.9	6.4	0.3	0.3	7,797.9
Amounts due from banks	167.5	85.0	201.5	204.6	658.6
Amounts due from clients	4,848.4	451.4	128.6	6.5	5,434.9
Mortgage loans	40,860.6	42.3	14.7	0.0	40,917.7
Trading portfolio assets	1,136.1	204.1	264.8	87.9	1,692.9
Positive replacement values of derivative financial instruments	79.5	5.0	4.9	0.2	89.6
Financial investments	4,792.2	349.5	127.5	20.8	5,290.1
Accrued income and prepaid expenses	95.6	2.9	2.0	0.2	100.7
Non-consolidated participations	28.3	0.0	0.0	0.0	28.3
Tangible fixed assets	213.8	0.0	0.0	0.0	213.8
Other assets	24.7	– 0.3	0.1	0.1	24.6
Total assets shown in balance sheet	60,037.8	1,146.2	744.5	320.7	62,249.1
Delivery entitlements from spot exchange, forward forex and forex options (contract values delta-weighted)	2,111.3	2,563.2	3,403.8	358.0	8,436.2
Total assets	62,149.1	3,709.4	4,148.2	678.6	70,685.3
Liabilities
Amounts due to banks	3,724.9	1,130.2	703.1	148.1	5,706.2
Amounts due to securities financing transactions	2,434.0	74.5	63.4	0.0	2,571.9
Amounts due in respect of customer deposits	27,846.8	1,421.5	501.1	240.2	30,009.6
Trading portfolio liabilities	55.9	0.0	0.0	0.0	55.9
Negative replacement values of derivative financial instruments	173.6	1.7	1.3	0.0	176.6
Liabilities from other financial instruments at fair value	618.6	182.1	127.0	0.0	927.7
Cash bonds	206.2	0.0	0.0	0.0	206.2
Bond issues and central mortgage institution loans	17,867.9	102.8	80.4	1.9	18,053.0
Accrued expenses and deferred income	260.5	5.7	6.6	0.3	273.2
Other liabilities	17.0	0.0	0.2	0.0	17.2
Provisions	26.6	0.3	0.0	0.0	26.8
Reserves for general banking risks	694.4	0.0	0.0	0.0	694.4
Share capital	183.5	0.0	0.0	0.0	183.5
Capital reserve	487.1	0.0	0.0	0.0	487.1
Retained earnings	2,568.8	0.0	0.0	0.0	2,568.8
Own shares	– 4.5	0.0	0.0	0.0	– 4.5
Consolidated profit	295.5	0.0	0.0	0.0	295.5
Total liabilities shown in balance sheet	57,456.6	2,918.9	1,483.1	390.5	62,249.1
Delivery obligations from spot exchange, forward forex, forex options and precious metal transactions	4,843.1	799.3	2,571.3	218.5	8,432.1
Total liabilities	62,299.7	3,718.1	4,054.5	608.9	70,681.3
Net position per currency	– 150.7	– 8.8	93.8	n.a.	4.1
Previous year	– 56.1	– 15.3	64.9	n.a.	55.7