Swiss wealth manager Vontobel reports record half-year earnings, driven by lower costs and strong net new money inflows across regions.
Vontobel’s first-half profit jumped 87% year-on-year to SFr216m, beating expectations as efficiency improvements cut the cost-income ratio to 67.9%. Revenues climbed 24% to SFr852m, while operating expenses totaled SFr579m.
Assets under management rose 5% to SFr252.2bn, with net new money reaching SFr2.5bn, up from SFr2bn a year earlier. The CET1 ratio strengthened to 23.2%, and return on equity increased to 16.9% from 10.2%.
Private clients and structured solutions drove growth, with inflows across all regions. Institutional assets under management grew to SFr112.5bn, though reported net new money was flat after adjusting for outflows.