Swiss bank Pictet recorded, in the bank’s first ever publicly released results in their 209-year history, profits of CHF 203 million ($222 million) in the half year ended 30 June 2014.
In addition, operating income totalled CHF 975 million ($1,064 million) and total assets hit CHF 34.2 billion.
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Assets under management came in at CHF 404 billion, CHF 13 billion higher than at the end of the previous year, CHF 150 billion of which coming from the Swiss bank’s wealth management division.
Jacques de Saussure, senior managing partner, said: "Our financial solidity, along with the ability to set our own business strategy without pressure from external shareholders or creditors, go hand in hand with independence of mind, exacting risk management and freedom from the temptations of short term fashion."
This is not the only unprecedented results release this week as Lombard Odier are set to reveal their results this Thursday. This comes as part of their ‘corporate partnership’ hybrid status which will make it easier to compare them with fully-listed Swiss players such as Credit Suisse and UBS.
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