Pictet, a wealth and asset manager for private clients and institutional investors, has released stable financial results for the first half of 2025.

Profits at Geneva-headquartered Pictet for the first half of 2025 reached SFr331 million ($413 million), up 3 per cent on the previous year, driven by positive client momentum and solid investment performance.

Operating income amounted to SFr1.570 billion, on a par with the first half of 2024, while total expenses before tax fell to SFr1.151 billion, down 2 per cent, the firm said in a statement.

Positive client momentum and solid investment performance continued to drive results, though the weaker US dollar weighed on assets under management or custody, which stood at SFr711 billion as at 30 June 2025, down 2 per cent from 31 December 2024. There has been a trend of Switzerland-based banks being affected by the falling dollar rate against the Swiss franc in recent months.

The Pictet Group’s total equity and total capital ratio remain strong. Total equity came to SFr3.34 billion on 30 June 2025. The total capital ratio stood at 24.3 per cent, above the minimum of 12 per cent required by Pictet’s Swiss regulator FINMA.

“In a year marked by geopolitical uncertainty and significant currency shifts, the Pictet Group reports stable half-year results that once again underline the resilience of our business model and the trust of our clients,” Marc Pictet, senior managing partner, said. “We will continue to invest in talent and technology to drive superior investment results and an exceptional client experience.”

With SFr711 billion in assets under management or custody, Pictet has 31 offices worldwide, in Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, Lisbon, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Shanghai, Singapore, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.