Reports

Vontobel Expects Higher Half-Year Profits

Tom Burroughes, Group Editor, 21 June 2021

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Without giving any figures, the bank pointed to a broadly stronger set of financial results, which will be fully disclosed on 27 July.

At the weekend, Vontobel, the Swiss private bank and investment house, said that it expects to post a higher profit in its half-year results compared with the same period of last year.

This increase in profit mainly reflects a “very high level of activity among digital investing clients in the structured products business,” it said in a statement.

“Driven by the further strengthening of client confidence," the firm said that "the continuous expansion of its product range, as well as increasingly efficient and targeted marketing activities" has "grown its market share in the area of digital investing.”

The Zurich-listed firm has acquired new clients in Switzerland, Germany and Hong Kong in particular.

It said that business income generation during the first five months of the year with institutional and wealth management clients was “satisfactory,” while not giving any specific financial figures.

“Vontobel’s good position in terms of income generation will enable it to continue making targeted investments in future growth areas,” it said. 

Vontobel will publish its detailed results for the first half of 2021 on 27 July 2021.

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