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.
Go deeper with GlobalData
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.
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.
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
