Assets under management at Clariden Leu, the Swiss private bank, fell by three per cent in the first half of 2010 to SFr99 billion (around $96 billion), compared to SFr102 billion at 31 December 2009.

The bank generated net revenues of SFr527 million in the first half of 2010, compared with SFr566 million in the same period of 2009. Clariden Leu also reported a SFr800 million drop in net new assets.

The firm’s net profit for the first half was SFr102 million, compared to SFr219 million in the prior year – a fall of 53 per cent; however, Clariden Leu said its net profit for the first half of 2009 was boosted by an extraordinary item of SFr100 million as well as by operations.

The bank's BIS tier 1 core capital ratio stood at 24 per cent at end-June 2010.

The bank came into being in early 2007 as a result of the merger of five subsidiaries of Credit Suisse.