Mirabaud, a Swiss wealth and asset management group, has reported a consolidated net income of CHF31.6m for the year ended 31 December 2016, an increase of 16.7% compared to CHF27.1m a year ago.

The group’s revenue for 2016 remained stable at CHF289m. This included net interest income of CHF24.1m, fee and commission income of CHF227.7m and net income from trading activities of CHF30.3m.

The group's total assets under management (AuM) at 31 December 2016 were CHF33.1bn, including CHF3.2bn of double-counted assets. Of the total AuM, CHF8.1bn was managed by asset management arm, while CHF25bn was managed by wealth management business.

Operating expenses before depreciation and tax were CHF244.4m, a fall of 2.4% from CHF250.5m a year earlier.

Mirabaud senior managing partner Yves Mirabaud said: “In a competitive environment dominated by new regulatory requirements, our results reflect the good performance of our businesses. Our international expansion strategy continues to bear fruit, as we are pursuing growth in all the markets in which Mirabaud operates.”