Reports
Vontobel Reports Rise In 2016 Profits, AuM

The Swiss firm, which this week unveiled a booking centre deal with Bank of Singapore, has reported robust results for 2016.
Vontobel, the Swiss
private bank and investment house that this week inked a
partnership deal with Bank of
Singapore, yesterday reported a 47 per cent year-on-year
surge in IFRS group net profit to SFR62.9 million,
including one-off items. On an adjusted basis, the Zurich-listed
firm said profit rose 12 per cent over the year to SFr201.5
million.
The firm said its dividend, including a special dividend, will
rise 8 per cent to SFr2.0 per share.
At the end of last year, client assets reached a record of
SFr195.4 billion, up 4 per cent. In wealth management, there was
a 5.3 per cent rise in net new money, beating its
target. Asset management continued to be the main driver of
Vontobel’s earnings. Financial products increased in transaction
volume terms by more than 20 per cent to SFr18.2 billion.
Vontobel’s capital ratio rose 1.1 percentage points to 19.0 per
cent. Return on equity rose to 18 per cent from 12.4 per
cent.
The firm has almost 200 relationship managers working worldwide.
Last year, Vontobel added to its regional footprint with new
sales activities in Taiwan, Scandinavia and the
Netherlands.
Measured in terms of turnover, Vontobel has a market share of
26 per cent in its Swiss home market, 6.8 per cent in
Germany and a total market share of 8.8 per cent in key European
markets.
Vontobel said it is driving a “buyer’s market” for structured
products with the rollout of a smart app in Switzerland and
Germany this year, and has already entered the French and Dutch
markets this year, intending to enter the Hong Kong market also
in 2017.
As reported earlier
this week, Bank of Singapore has entered into a strategic
cooperation agreement with Vontobel so that the former's Asian
ultra-high and high net worth clients can open accounts with
Vontobel in Zurich, a move BoS said was a groundbreaking step.
The clients can get access to Vontobel's suite of European
financial products and services; they can choose Vontobel or Bank
of Singapore to manage their assets booked in Zurich.