Assets under management at Swiss banking group SYZ & Co increased to SFr25 billion ($26.8 billion) over 2012, up 18 per cent from SFr21.1 billion in 2011, according to the firm's latest annual report.

The firm said the SFr3.9 billion increase derived from net inflows of new money and strong investment management performance in private banking, institutional asset management and investment funds.

The bank's Tier-1 ratio rose from 22.9 per cent to 27.8 per cent, due to substantial equity and capital reserves (SFr385.1 million), combined with a still-cautious approach, the firm said.

Consolidated revenues remained stable at Sfr185.7 million in 2012, compared with SFr186.0 million in 2011.

Expenditures fell by 1.7 per cent and, as a consequence, consolidated gross earnings rose by 10.5 per cent in 2012 to reach SFr25.9 million. Consolidated net income for 2012, after deduction of the minority interests’ share, amounted to SFr12.6 million, up from SFr12.4 million in 2011.

In other recent developments, earlier this month SYZ & Co boosted its stake in the holding company of Italy’s Banca Albertini Syz & C to 64.3 per cent from 50 per cent.