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.