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Digital Unit Leaves Swiss Cantonal Bank with Write-Down
6 Articles
6 Articles
Too few customers – too high costs: the BLKB subsidiary Radicant has to write off over CHF 100 million.
Basellandschaftliche Kantonalbank deducts 105 million Swiss francs on the value of its subsidiary Radicant. Digitalbank failed, among other things, its expectations regarding earnings or the customer base. In the course of the upcoming change of course, three executives announce their resignation.
Goodwill of more than 40 million in the BLKB balance sheet. Also UBS and venture companies involved. Does PUK threaten Baselland? The cantonal banks and abroad: First a love affair, then the problems and losses follow. Exactly one year ago the Zurich Kantonalbank (ZKB) announced the sale of its Austrian daughter with around 120 employees in Vienna and Salzburg to the Liechtensteinische [...]
Basel-Landschaftsbank announced on Thursday that it had recorded a new value adjustment of 105.5 million francs on its stake in Radicant.
Shock at BLKB: Massive Write-down, CEO and Chairman to Step Down
Trouble is brewing at Basellandschaftliche Kantonalbank (BLKB). A write-down of over 100 million Swiss francs has been made on the value of its neo-bank subsidiary, Radicant. Both the Chairman of the Board and the CEO have announced they will step down in 2026.
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