Close ties with the Swiss Canton of Glarus, facilitated by its majority ownership of the bank and its statutory guarantee. Very strong capitalization. Sound retail banking franchise in the Canton of Glarus and a loan book dominated by well-collateralized residential mortgages. Concentration risk because of a focus on residential mortgage lending in the home canton and neighboring economic area, with more price-sensitive relationships with customers outside the home canton. Weaker cost efficiency and profitability than most rated cantonal peers. Stronger reliance on wholesale funding activities than the rated cantonal peer group. The stable outlook on Swiss bank Glarner Kantonalbank (GLKB) reflects S&P Global Ratings' view that GLKB continues to benefit from being a government-related entity (GRE) with an extremely high
