Dubai PR Network, Online Press Release from Dubai and Middle East
 
Money, Business & Investments(Banking & Investments)
Filter PR by
  
The Lombard Odier Group Reports 2016 Result
 
  • Total client assets on 31 December 2016 reached CHF 233 billion, of which assets under management represented CHF 159 billion
  • Net inflows of client assets were CHF 5.2 billion
  • Consolidated net profit for the full year was CHF 124.5 million
  • Basel III CET1 ratio stood at 29.3%

Increased client assets
Client assets rose by 4% to CHF 233 billion in 2016, from CHF 224 billion in 2015, despite sustained market volatility, political change and macroeconomic uncertainties. Net inflows and market performance lifted client assets over the year, despite a negative impact from the strong Swiss franc.

As a result total client assets in the private clients business reached CHF 119 billion, while asset management clients invested CHF 45 billion with Lombard Odier Investment Managers and technology and banking services clients entrusted the Group with an additional CHF 69 billion. 

Earnings reflect challenging market conditions
Operating income for 2016 was CHF 1,040 million, 3% lower than in 2015. Challenging market conditions resulted in subdued client activity and hence lower earnings. The operating cost/income ratio was 83%. The consolidated net profit fell 13% to CHF 124.5 million. 

“The rise in client assets in 2016 is positive in what was a challenging market,” said Patrick Odier, Senior Managing Partner. “We continued to hire experienced bankers and portfolio managers to develop our private client business. In our asset management business, the strength of our offering resulted in us winning several large mandates over the year. And in our technology and banking services business, we cultivated a strong client pipeline and signed new partnership agreements in Switzerland, France and Luxembourg. Our cost income ratio remains high as a result of continued investments which should increase revenues in the medium term.” 

A solid balance sheet
The balance sheet remains highly liquid and conservatively invested. Total assets amounted to CHF 16.4 billion as of 31 December 2016. The Group has no external debt and is one of the best capitalised banks globally, with a Basel III CET1 ratio of 29.3%, compared with 25.7% in 2015.


Posted by : Dubai PR Network Editorial Team
Viewed 9077 times
PR Category : Banking & Investments
Posted on : Thursday, March 9, 2017  4:22:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : 4th GPCA Research and Innovation Summit: Regional Petrochemi...
Next Story : MoTC and Accenture Sign MOU to Power Smart Qatar Program ‘TA...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Marchon Eyewear Summer 2018 Collections [9522-Views]
du Distributes Eid Gifts at Al Jalila Children's Hospital [9211-Views]
Al-Futtaim ACE celebrates Eid with exciting offers and activities [8589-Views]
24 hour Mega Sale at Dalma Mall! [8351-Views]
Filorga introduces two new additions to its UV-BRONZE range offering a comprehensive range... [7729-Views]
Purify Your Skin with Skin Republic [7534-Views]
A Sparkling Gift Guide for Eid al-Fitr by Mouawad [6930-Views]
Al Ghandi Auto brings the most Affordable Electric Vehicle - Chevrolet Bolt EV - to the UA... [6112-Views]
Rapid renewal of smartphone portfolio brings next generation Nokia 5 and Nokia 3 to fans ... [5704-Views]
Captivate Your Senses with Marks & Spencer's Exclusive Oud Collection [5490-Views]
Stylish men's watch - BU4018-11H - with rose gold case and black dial is a real beauty [5423-Views]
Splash's ‘Life After Fashion' Campaign Breathes New Life into Old Garments [5398-Views]
Hamdan Bin Mohammed Heritage Center distributes Eidia on first day of Eid [5356-Views]
Crowe Horwath announces global rebrand to “Crowe” Sometimes a smart decision is a simple... [5350-Views]
iVOOMi Smartphones Enter the UAE Market Exclusively on SOUQ.com [5313-Views]
New open-air member of the AMG GT family [5295-Views]
The Summer Just Got Sweeter with the New Palm Candy Collection from Max [5264-Views]
Abu Dhabi Treats Eid Al Fitr Visitors to Shopping Bonanza with 90% Discounts Across 15 Sel... [5209-Views]
All Abroad… Mobile Cinema Bus presented by Pert Plus [5148-Views]
Tissot Chrono XL Tour de France Special Edition Cycling just got big [4892-Views]
Skydance: The Sun – shining amid the immensity of the galaxy [4801-Views]
Hair Rituel by Sisley Now available at Paris Gallery [4752-Views]
Great Moments Manero Flyback accompanies Swiss National Soccer Team To Russia [4673-Views]
The Lacoste Moon Collection [4648-Views]
Boss watches presents Master Collection [4630-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories