Press release of November 4, 2021


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Press release / Ad hoc announcement in accordance with Art. 53 LR

Bern, November 4, 2021

Valiant significantly exceeds its growth targets

In the third quarter of 2021, Valiant recorded a 4.2% increase in customer loans, exceeding its annual target of 3%. Valiant’s strategy is bearing fruit, in particular in the securities and investment activities: commissions received on trading and investment activities in securities increased by 12.6% compared to the previous year. Consolidated net profit increased 1.1% year-on-year to CHF 88.6 million. In the fourth quarter of 2021, Valiant will open new branches in Bülach, Wohlen and Frauenfeld.

Valiant is on track with the implementation of Strategy 2024: it is opening branches in new regions and strengthening its activity in its core market. And this strategy is paying off. The consolidated net profit for the first nine months of the year amounts to CHF 88.6 million, an increase of 1.1% compared to the previous year. Operating profit increased 4.3% to CHF 316.9 million and operating profit increased 0.6% to CHF 108.7 million. “We work day in and day out to provide simple financial solutions to our clients. Thanks to our expansion strategy, we are increasing our presence in our market. Our 9M results confirm that we are on the right track, ”says Ewald, CEO of Valiant. Burger.

Strong interest income

As in previous quarters, interest income remained strong. Interest expense is down mainly due to the active management of assets and liabilities of Valiant and its covered bond program. Net interest income before value adjustments increased by 3.9% to CHF 254.9 million. Valiant’s loan portfolio has remained strong throughout the COVID-19 pandemic, and as of 9M 2021, value adjustments for credit risk and loan losses amounted to CHF 8.3 million. As a result, net interest income stood at CHF 246.6 million, up 4.6% compared to 9M 2020.

Growth in fee and commission income

Fees and commissions rose 5.5% to CHF 48.4 million, well exceeding the target of 3%. Fees from trading and securities investing activities were particularly strong, up 12.6% year-on-year.

Other operating income and expenses

Other operating income decreased from CHF 3.1 million (-24.1%) to CHF 9.9 million due to lower income from investments. Net trading income increased by CHF 2.8 million (30.0%) to CHF 12.0 million. Operating expenses increased in line with Valiant’s plans, up 6.2% to CHF 190.8 million. “We are investing in our digital services and in branches in new markets

Valiant Bank AG, Corporate Communications, Bundesplatz 4, PO Box, CH-3001 Berne, +41 31 320 9191, valiant.ch

areas. We rigorously implement our strategy in order to generate economies of scale, ”explains Ewald Burgener.

Accelerate the pace of expansion

Valiant is accelerating its expansion from Lake Geneva to Lake Constance. On November 1, 2021, it opened a new branch in Bülach. It will open a branch in Wohlen on November 15 and another in Frauenfeld on November 29. Valiant has already found other locations in Wädenswil, Meilen, Winterthur, Pully and Uster. Between 2020 and 2024, Valiant will add 14 branches to its network, creating 170 full-time equivalent positions, including 140 customer advisers.

Growth in customer loans and deposits

Customer loans increased by 4.2% to CHF 27.0 billion. As a result, Valiant has already exceeded its annual growth target of 3%. Since 2017, 45% of the growth in customer loans has come from new Valiant branches. Customer deposits increased 6.6% to CHF 22.4 billion.

Progress in sustainability

In the third quarter of 2021, Valiant rolled out its new strategic funds focused on sustainability. Customers can now invest their money in responsible companies that are committed to preserving the environment, improving people’s well-being and helping to reduce carbon emissions. Valiant’s efforts in this area have been recognized by MSCI, which raised the bank’s sustainability rating from BBB to A.

Stable business trend

Valiant expects a stable business trend for 2021 as a whole, with annual profit in line with the previous year.

Valiant Bank AG, Corporate Communications, Bundesplatz 4, PO Box, CH-3001 Berne, +41 31 320 9191, valiant.ch

Key figures in the balance sheet

09/30/2021

12/31/2020

Switch

in CHF millions

in CHF millions

like %

Total assets

35 928

33 184

8.3

Customer loans

26,964

25,868

4.2

– of which mortgage loans

25,360

24 212

4.7

Customer deposits

22,415

21,028

6.6

Workforce (FTE)

985.4

937.4

+48 FTE

Key figures of the income statement

09/30/2021

09/30/2020

Switch

in CHF thousands

in CHF thousands

like %

Net interest income before value

254 911

245,397

3.9

credit and loan risk adjustments

losses

Fees and commissions

48,387

45,867

5.5

Net operating income

12,018

9,244

30.0

Other exploitation products

9 916

13,060

-24.1

Operating result

316 945

303 988

4.3

Operating Expenses

190 845

179,757

6.2

Operating result

108,677

108,051

0.6

Consolidated net income

88,565

87 638

1.1

Documents and information on 9M results are available at: vaillant.ch/results

Images can be downloaded here: vaillant.ch/downloads

Contact analysts and investors

Joachim Matha, Investor Relations Manager, 031 310 77 44, [email protected]

Media Contact

Simon Bickel, media spokesperson, 031 320 96 18,[email protected]

About Valiant

Valiant is an independent Swiss financial services provider. It operates exclusively in Switzerland and offers private clients and small and medium-sized businesses a full range of easy-to-understand products and services covering all financial needs. Valiant has a strong local presence, with 99 branches in the following 13 Swiss cantons: Aargau, Basel-Country, Basel-City, Bern, Friborg, Jura, Lucerne, Neuchâtel, Solothurn, St. Gallen, Vaud, Zug and Zurich. Thanks to its innovative digital services, Valiant is also available to its customers throughout Switzerland. Valiant has total assets of CHF 35.9 billion and more than 1,000 employees, including 80 interns.

Valiant Bank AG, Corporate Communication, Bundesplatz 4, PO Box, CH-3001 Berne, +41 31 320 9191, valiant.ch

Disclaimer

Valiant Holding SA published this content on 04 November 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 04 November 2021 09:21:08 AM UTC.

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