Valiant Holdings, a Swiss financial services firm with a sizable private banking business, says the group will achieve a higher first-half 2...

Valiant Holdings, a Swiss financial services firm with a sizable private banking business, says the group will achieve a higher first-half 2006 net profit, although margin growth is likely to slow. Speaking to the Swiss bi-weekly Finanz und Wirtschaft, Valiant’s chief executive Kurt Streit said he could confirm a positive trend for the group. But added: “We will see (margin) growth in the first half but not at the rate of several percentage points like other financial institutions.” Mr Streit also said the group would unlikely to be making an acquisition, given the extremely high prices paid for acquisition in the private banking sector.