View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 7, 2014updated 04 Apr 2017 2:31pm

Vontobel full-year net income slips marginally

Swiss private bank Vontobel reported a net income of CHF122.3 million (US$136 million) for the year 2013, down 1.5% from CHF124.1 million a year earlier.

By Verdict Staff

Swiss private bank Vontobel reported a net income of CHF122.3 million (US$136 million) for the year 2013, down 1.5% from CHF124.1 million a year earlier.

The bank’s profits were hit by one-off costs of CHF20.7 relating to the adjustment of the cross-border business model, the tax agreement with the UK and the measures concerning the bank’s participation in the US Program.

The company reported net inflows of CHF9.1 billion, bringing managed client assets to CHF109.6 billion at the end of December. The growth in new money corresponds to 9.2% of the asset base.

The Board of Directors of the bank proposed an 8% hike in the dividend to CHF1.30 to the General Meeting of Shareholders of 1 April 2014.

"This proposal underscores the Board of Directors’ confidence in Vontobel’s sustained profitability and our forward-looking strategy," stated Herbert J. Scheidt, chairman of the board of directors.

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International