Independent private bank and asset manager Reyl and Cie saw its assets under management (AUM) grow 26% and displayed strong revenue growth in the first six months of 2013.

The bank’s AUM stood at CHF9.3 billion ($9.8 billion) at the end of June 2013 and revenues totalled CHF59.1 million, an increase of 64%.

The bank said in a statement: "REYL Group is reaping the rewards of the diversification strategy implemented over the past decade."

Some of the increase in revenue was also attributed by the bank’s move into corporate advisory, a service it started to offer in 2011.

Reyl prides itself on offering a broad diversified offering which it tailors to individual clients.

The increase in revenue and AUM at the Swiss bank comes as many other banks in Switzerland feel increased pressure from regulation changes and increased competition from global banks like UBS and Credit Suisse.

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