2017 financial results: Vontobel delivers robust net profit and remains on course for growth
Media release
2/13/2018
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- 2017 results confirm effectiveness of growth strategy pursued in recent years.
- IFRS net profit totals CHF 209.0 million.
- On an adjusted basis, the result is CHF 217.9 million, an increase of 12% year on year.
- 9% increase in adjusted operating income reflects continuous organic growth across all businesses.
- Client assets grew 26%, reaching a new record level of CHF 246.5 billion.
- CHF 5.9 billion of net new money was entrusted to Vontobel.
- Combined Wealth Management achieved growth in net new money of 4.7%, within the defined target range of 4-6%.
- Net inflow of new money in Asset Management accelerated in the second half of the year, reaching CHF 3.6 billion for the full year 2017.
- Asset Management was once again the main earnings driver. Successful diversification and strong performance quality bear fruit.
- Financial Products continues to expand its strong international position by entering new markets and launching innovative solutions.
- Return on equity of 13.1% exceeds target return.
- At 18.4%, solid common equity tier 1 (CET1) ratio significantly exceeds regulatory requirements.
- Ordinary dividend to increase by 11% to CHF 2.10.
- Vontobel is seeking to further strengthen its already robust profitability in the current financial year.
- Vontobel expects the US tax reform to result in a reduction of 2-3 percentage points in its tax rate for 2018, if all other factors remain unchanged.
