Swiss private bank Lombard Odier reported a consolidated net profit of CHF72m in the first half of 2019.

This is a decline of 10% from the previous year figure of CHF80m.

The group’s operating income for the first six months of 2019 stood at CHF581m, a fall of 2% from last year. The decrease was said to be due to lower client activity.

Client assets of CHF287bn as of 30 June 2019 were 11% higher than end-December 2018.

Net inflows were said to be “robust” in the first half.

Lombard Odier’s CET1 ratio and liquidity coverage ratio were 28.2% and 203%, respectively, at the end of June 2019.

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According to the firm, its balance sheet of CHF18.8bn is “strong, highly liquid and conservatively invested”. The firm also noted that it has no external debt.

Commenting on the performance, Lombard Odier senior managing partner Patrick Odier said: “Our client assets grew in the first six months of 2019, reflecting, in part, the positive impact of new client relationships. Our focus remains on delivering exceptional wealth & asset management services and long-term value for our clients.

“We continue to embed sustainability into our investment processes across the Group, given our conviction that it will be one of the main drivers of future returns.

“We are also pleased that our commitment to corporate sustainability gained us B Corp certification in March.”