Vontobel half-year 2018 results: Investments in the future impact positively on profit and growth
Media release
7/27/2018
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- Group net profit increased by 31% to CHF 132.7 million
- Operating income rose by 13%. Record assets under management of CHF 168.6 billion
- Strong inflow of new money totaling CHF 5.1 billion
- Integration of Notenstein La Roche is progressing as planned
- Higher profitability targets in Combined Wealth Management while target growth rates remain unchanged
- Combined Wealth Management pre-tax profit increased by 46% to CHF 56.2 million. Net new money growth of 6.4%
- Asset Management is main earnings driver with pre-tax profit of CHF 92.5 million and net new money growth of 7.2%
- Financial Products grows market share in Europe and Asia and moves ahead with platform strategy and international expansion
- Vontobel increases 2020 profitability targets: Cost/income ratio to improve to less than 72% (previously: 75%) and return on equity to exceed 14% (previously 12%)
- Vontobel aims to further increase already solid profitability in current financial year compared to 2017
