Vontobel delivers satisfactory result for 2022
- Satisfactory return on equity of 11.2 percent, given the market environment
- Consistent delivery of capital-light strategy coupled with solid capital base
- Strong CET1 capital ratio of 16.7 percent at end-2022
- Dividend of CHF 3.00 per share, unchanged from prior year, proposed to General Meeting of Shareholders
- All areas of business contributed to positive performance
- Strong net new money growth of 5.6 percent in Wealth Management, within the target range
- Clients stayed on sidelines rather than reinvesting or making new investments in various asset classes, resulting in outflows of -7.4 percent in Asset Management
- Net new money was negative overall at -2.1 percent
- Assets under management down 16 percent to CHF 204.4 billion after record year 2021; decline mainly reflects market situation
- Assets under management in Wealth Management stable despite market downturn
- Wealth Management achieves good gross margin of 71 basis points
- Asset Management reports satisfactory gross margin; reduction to 37 basis points mainly reflects business mix
- Profit after taxes of CHF 229.8 million, compared to CHF 383.8 million in record year 2021
- Pre-tax profit of CHF 267.4 million, compared to CHF 467.2 million in prior year
- Measures to contain costs already introduced in 2022; additional gross cost reductions of CHF 65 million expected by end-2023
- Vontobel is pursuing ambitious mid-term profit and growth targets and consistently implementing priorities as it works towards the Lighthouse Ambition 2030
- Vontobel wants to achieve further capital-light growth in 2023, primarily based on business with recurring revenues, while maintaining a conservative risk profile
