Glarner Kantonalbank

Glarner Kantonalbank
Company type	Public-law institution
Traded as	SIX: GLKBN
ISIN	CH0189396655
Industry	Financial services
Founded	1884
Headquarters	Glarus, Switzerland
Services	Banking
Total assets	5,279 mln CHF (2016)
Number of employees	174 (2016)
Website	www.glkb.ch

Glarner Kantonalbank is the cantonal bank and the dominant retail banking group in the Swiss canton of Glarus.

In 2014, the bank was listed in the SIX Swiss Exchange.^[1]

Branches

In addition to the headquarters in Glarus, there are branches in Niederurnen, Näfels, Netstal, Schwanden and Linthal, but not in Glarner Sernftal, which is traditionally served by Glarner Regionalbank AG.

Ownership

On 11 May 2010, Glarner Kantonalbank was transformed from an institution under public law into a public limited company under special law. Until an IPO in July 2014, it was wholly owned by the Canton of Glarus, with a majority stake of 68.24%. In addition to traditional advice in the mortgage and savings business, commercial lending, investment advice and asset management have gained in importance. Like the vast majority of all cantonal banks, the Glarus-based bank also has a so-called state guarantee. This means that the canton is liable for the liabilities of the bank.^{[citation needed]}

Organisation

The Board of Directors is the supreme supervisory body of the Glarner Kantonalbank. It consists of seven members and is currently chaired by Urs P. Gnos.^[2] According to Art. 14 para. 2 of the law on the Cantonal Bank of Glarus, the Government Council (cantonal executive) must be represented on the Board of Directors by at least one member.^[3] Rolf Widmer, Head of the Department of Finance and Health, represents the Government Council.