The Swiss private bank boosted its consolidated net profit by a fifth year-on-year as its private clients business delivered steady growth.

Lombard Odier's consolidated net profit rose 20 per cent to SFr 144 million ($144 million) in 2015 as client assets rose from SFr 215 billion to SFr 224 billion.

The growth came in spite of a volatile 2015 which began with the de-pegging of the Swiss Franc in January, resulting in a stronger currency. The negative impact of this, however, was offset by positive contributions from net new money and market performance during the year, the bank said in its results statement. Net inflows of funds from private and institutional clients were positive.

Total client assets in the private clients business remained steady at SFr 116 billion, while asset management clients invested SFr 49 billion with Lombard Odier Investment Managers, the same as in 2014. Technology and banking services clients entrusted the bank with a further SFr 59 billion, compared to SFr 50 billion the year before. Assets under management stood at SFr 160 billion at the end of 2015.

Meanwhile, net profit excluding non-recurring items remained broadly flat as operating income grew four per cent year-on-year to SFr 1.075 billion.

“These positive results for 2015 are due to the efforts we have made over several years across all business lines and at group level” said senior managing partner Patrick Odier. 

“Our solid financial position allows us to maintain long-term investments. We continue to invest in our private client businesses in Europe, Switzerland and the emerging economies; distinctive and innovative investment solutions for institutional clients; and further developments into the technology platform that Lombard Odier provides also to third parties.”

Lombard Odier had a fully-loaded Basel III CET1 ratio of 25.7 per cent at the end of the year, up from 22.6 per cent in 2014.