Bank Sal Oppenheim (Swiss) recorded at 9 per cent rise in net profits to SFr19 million ($15.1 million) in 2004; revenues rose 8 per cent to ...

Bank Sal Oppenheim (Swiss) recorded at 9 per cent rise in net profits to SFr19 million ($15.1 million) in 2004; revenues rose 8 per cent to SFr68 million and operating profit rose 9 per cent to SFr24.9 million. The bank’s Swiss operations are based in Zurich, where it manages client assets of around SFr5.1 billion. It is 88.2 per cent-owned by Sal Oppenheim and 11.8 per cent-owned by management. In July, the Sal Oppenheim group, which is based in Cologne, reported a pre-tax profit of $115.6 million for the first half of 2005. Assets under management in the first half of the year rose 13 per cent year-on-year, with total assets under management amounting to €36.8 billion ($45.5 billion).