Swiss private bank Pictet has reported a strong performance in 2020, with rise in profit and assets under management or custody growing to an all-time high supported by strong inflows across all its business units.

Key metrics

The bank’s consolidated net profit for the full year ended 31 December 2020 stood at CHF577m ($647.1m), which is 7% higher than the previous year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Operating income increased 10% year-on-year to CHF2.88bn.

Net new money of CHF24bn took its assets to CHF609bn at the end of last year. The figure is a 6% rise from CHF576bn a year ago.

At the end of December 2020, the bank’s CET1 ratio, a key measure of strength, was 20.2%.

Its liquidity coverage ratio was 182% at the end of the period.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

These ratios exceed the ones set by Swiss watchdog Finma (7.8% for CET1 ratio and 100% for liquidity coverage ratio).

Last year, Pictet has set up offices in Monaco, Shanghai, and New York. The New York outpost is the firm’s first US office.

Meanwhile, its wholly foreign-owned enterprise (WFOE) in Shanghai will allow the firm to raise funds from mainland investors into its offshore strategies under China’s qualified domestic limited partners (QDLP) scheme.

The firm recently appointed Sharon Chou as the new chief for its Singapore-based private banking unit, Bank Pictet & Cie (Asia).

Pictet Group senior managing partner Renaud de Planta said: “We have also continued to invest in talent and technology throughout the Group and significantly expanded our headcount.

“The strong inflows of new client assets are due in no small part to the excellent investment performance across our business units.”