Luzerner Kantonalbank Ag · SIX:LUKN
Luzerner Kantonalbank — H1 2026 Earnings Presentation
29 slides from Luzerner Kantonalbank's earnings presentation, 2026
Slide 1: Half-year results for 2026
Half-year results for 2026
Slide 2: Agenda
Agenda 1 In brief 2 Half-year results for 2026 3 Outlook for 2026 annual results 4 Your questions 5 Annex 2
Slide 3: In brief
In brief « Luzerner Kantonalbank
Slide 4: LUKB's market environment and management measures
LUKB's market environment and management measures In brief Market environment in 2026 LUKB management measures • Moderate GDP growth of 1.1 % • Targeted management of the balance sheet and interest conditions • Slight year-on-year rise in inflation of 0.6 % • Adherence to the proven, very risk-consc
Slide 5: The half-year results for 2026 in brief
The half-year results for 2026 in brief In brief • Record half-year profit: consolidated profit 161.4 million Swiss francs (+7.1 %) • Rise in profitability: operating income 369.2 million Swiss francs (+6.3 %) • Increased diversification: Non-interest income +12.7 % • Zero-interest-rate environment
Slide 6: S&P credit rating: AA+ confirmed
S&P credit rating: AA+ confirmed In brief 2023 2024 2025 2026 Rating for non-current AA AA+ AA+ AA+ liabilities Rating for current A-1+ A-1+ A-1+ A-1+ liabilities 6
Slide 7: ESG ratings established at a high level
ESG ratings established at a high level In brief ESG ratings for LUKB 2023 2024 2025 2026 MSCI: ESG risk1) AA AA AA AA Inrate: ESG impact2) B- B B B* Inrate: Corporate governance (zRating)3 70 72 74 74* Sustainalytics (Morningstar): ESG risk4) Medium Medium Medium Medium* ISS: ESG impact, risks & op
Slide 8: Half-year results for 2026
Half-year results for 2026 « Luzerner Kantonalbank
Slide 9: Active interest rate risk management cushions the SNB's low interest rate policy
Active interest rate risk management cushions the SNB's low interest rate policy Half-year results for 2026 Development of net result from interest operations Comparison with the same period in the in million Swiss francs previous year • Highest net interest income ever achieved • +3.1 % versus the
Slide 10: Prudent development of the lending business
Prudent development of the lending business Half-year results for 2026 Development of loans to customers Development since the end of 2025 in billions of Swiss francs • Loans to customers as of 30.06.2026 +0.8 % 46.7 billion Swiss francs (+0.8 %) − Mortgage loans (-0.1 %) 50 46.4 46.7 Decline in CIS
Slide 11: Low average loan-to-value ratio for residential properties
Low average loan-to-value ratio for residential properties Half-year results for 2026 Locations of the pledged assets and loan to value in percent (as at 30.06.2026) 6.2 1.4 25.8 Locations of Loan to value the pledged (Ø 52.5 %) assets 58.8 15.4 92.3 < = 60 % loan-to-value ratio > 60–70 % loan-to-va
Slide 12: Quality of the lending portfolio remains high
Quality of the lending portfolio remains high Half-year results for 2026 Development of impaired loans and value adjustments in million Swiss francs or % of loans to customers Conservative credit risk policy has a positive impact • Traditionally low value adjustment requirement • Value adjustment ex
Slide 13: Strong growth in strategically key commission business and services
Strong growth in strategically key commission business and services Half-year results for 2026 Development of result from commission business and services Comparison with the same period in the in million Swiss francs previous year Result from commission business and services: 77.5 million Swiss fra
Slide 14: Desired increase in mandated client assets
Desired increase in mandated client assets Half-year results for 2026 Compared to the end of 2025 Development and composition of client assets under management in billions of Swiss francs • Client assets under management as at 30.06.2026: 43.993 billion Swiss francs (+3.3 %) − Net new money: +0.709
Slide 15: Result from trading activities: growth with unchanged risk exposure
Result from trading activities: growth with unchanged risk exposure Half-year results for 2026 Development of result from trading activities Comparison with the same period in the in million Swiss francs previous year Result from trading activities: 45.5 million Swiss francs (+12.1 % compared to the
Slide 16: Other result from ordinary activities slightly up
Other result from ordinary activities slightly up Half-year results for 2026 Comparison with the same period in the Development of other result from ordinary activities previous year in million Swiss francs Other result from ordinary activities: 7.3 million Swiss francs (+38.4 % compared to the same
Slide 17: Income substantially increased and diversified
Income substantially increased and diversified Half-year results for 2026 Comparison with the same period in the Development of operating income by income component previous year in million Swiss francs • Operating income +6.3 % versus the same period in the previous year • Interest operations: +7.2
Slide 18: Increase in expenses in line with strategy
Increase in expenses in line with strategy Half-year results for 2026 Comparison with the same period in the Development of operating expenses previous year in million Swiss francs • Personnel expenses: 115.6 million Swiss francs (+6.4 %) +9.2 million Swiss francs or +5.7 % • General and administrat
Slide 19: Highest half-year consolidated profit
Highest half-year consolidated profit Half-year results for 2026 Development of consolidated profit in million Swiss francs 200 +10.7 million Swiss francs or +7.1 % 150 100 150.7 161.4 137.4 144.7 141.9 144.8 128.0 50 0 1HY23 2HY23 1HY24 2HY24 1HY25 2HY25 1HY26 19
Slide 20: Outlook for 2026 annual results
Outlook for 2026 annual results 20
Slide 21: Assessment of market environment
Assessment of market environment Outlook for 2026 annual results • LUKB expects solid economic growth of 1.2 % for 2026, with inflation expected at 0.6 %. • Inflation is expected to rise moderately towards 1.0 % in 2027. • The Swiss National Bank (SNB) is likely to leave the policy rate at 0.0 % thi
Slide 22: Positive expectations for the 2026 financial year
Positive expectations for the 2026 financial year Outlook for 2026 annual results 6M 2026 Targets for 2026 Targets for 2030 305 to 320 million Swiss > 340 million Swiss Consolidated profit 161 million Swiss francs francs* francs > 240 million Swiss > 310 million Swiss Non-interest income 130 million
Slide 23: LUKB30: 50 million Swiss francs for strategic projects
«LUKB30»: 50 million Swiss francs for strategic projects Outlook for 2026 annual results Overview of strategic initiatives for 2026 to 2030 Investing and private banking AI and data • Further development of the investment • Expansion of AI competence centre business • Digital financial assistance •
Slide 24: Your questions
Your questions « Luzerner Kantonalbank
Slide 25: Annex
Annex « Luzerner Kantonalbank 25
Slide 26: Key equity figures
Key equity figures Annex Key figures per share in Swiss francs 2022* 2023 2024 2025 6M 2026 Closing price (at the end of the period) 82.70 72.00 63.90 92.70 110.20 Book value (at the end of the period) 76.11 78.20 82.02 85.31 85.87 Consolidated profit/share (earnings per share, EPS) 5.34 5.38 5.81 5
Slide 27: LUKN: Defensive stock with attractive risk-return profile
LUKN: Defensive stock with attractive risk-return profile Annex 27
Slide 28: Luzerner Kantonalbank AG, Pilatusstrasse 12, 6003 Luzern
Luzerner Kantonalbank AG Pilatusstrasse 12 6003 Luzern lukb.ch
Slide 29: Disclaimer
Disclaimer • This document qualifies as advertising within the meaning of the Swiss Financial Services Act (FinSA). It does not constitute an offer to sell or an invitation to exchange, buy or subscribe to securities of Luzerner Kantonalbank AG in any jurisdiction, and also does not constitute a pro
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