Mirabaud Group Logs AuM Rise In H1 2017

Robbie Lawther

31 August 2017

Geneva-based has reported a 4.5 per cent increase in its assets under management for H1 2017. It rose to SFr31.2 billion ($32.5 billion) from SFr29.9 billion on 31 December 2016.

The group’s profit surged year-on-year in H1 2017 SFr22.3 million (29 per cent increase), which the firm says was due to cost control and strong business performance.

Excluding operating expenses, gross profit was logged at SFr26.8 million, which rose from SFr21.5 million in the first half of 2016. Net income stood at SFr22.3 million in H1 2017, from SFr 17.3 million in H1 2016.

The group's Basel III CET1 ratio, a measurement of a bank's core equity capital compared with its total risk-weighted assets to highlight a bank’s stability, was logged at 20.6 per cent. It is expected that all banks should meet the minimum requirement CET1 ratio of 4.5 per cent by 2019.

"These results show good returns on our investments and reflect the relevance of our strategy of controlled international development", says senior managing partner Yves Mirabaud. "The Mirabaud Group’s financial soundness and structure enable us to offer our clients and partners excellent and innovative services founded on know-how accumulated over many years"