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13-08-08
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Vontobel Group reports net profit of CHF 115.3 million and strong net inflow of new money of CHF 3.2 billion
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The Vontobel Group delivered a net profit of CHF 115.3 million (minority interests: CHF 0.6 million) in the first half of 2008 in a challenging market environment and
significantly improved its performance compared to the second half of 2007. This is demonstrated by the 3% increase in operating income to CHF 466.4 million in the first six
months of 2008 compared to the second half of the previous year.
The strong net inflow of new money of CHF 3.2 billion - of which approximately CHF 1.5 billion was attributable to private clients and CHF 1.7 billion to institutional
clients - reflects the undiminished appeal of the Vontobel brand. However, the Vontobel Group was not entirely immune to negative market developments and saw assets under
management decline by around 7% to CHF 74.1 billion.
The Vontobel Group continued to report a very comfortable equity position with shareholders' equity of CHF 1.4 billion. The return on equity of 16.4% and the BIS tier 1
capital ratio of 20.1% reflect its above-average financial solidity. This is also confirmed by the first assessment of Vontobel by the rating agencies Standard & Poor's
and Moody's, which rated the long-term debt of Bank Vontobel as A+ and A1, respectively.
The Vontobel Group will continue to pursue its international growth strategy prudently yet decisively even in the turbulent market environment and will make further investments in
the growth of its presence in selected European markets and in the upgrading of its IT infrastructure.
Contacts
Media Relations:
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Juerg Staehelin
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| Head of Corporate Communications |
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| +41 (0)58 283 72 24 |
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Contact
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Investor Relations:
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Susanne Borer
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| Head of Investor Relations |
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| +41 (0)58 283 73 29 |
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Contact
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