The group attributed the rise in profit primarily to the 8% increase in total operating income and the reduction of the cost-income ratio by 6 percentage points.
The group’s assets under management (AuM) rose by 5% since the end of 2013 to CHF 116.2 billion. Net asset inflows totaled CHF 2.3 billion (corresponding to an annualized growth rate of 4.2%).
LGT Group’s tier 1 ratio was 20.7% as per 30 June 2014, compared to 21.3% at the end of 2013.
The group’s total operating expenses rose 7% to CHF 337.4 million during the period under review. Business and office expenses increased 4% to CHF 76.8 million. Personnel expenses rose by 8% to CHF 260.6 million, resulting from recruitment carried out in recent years as well as from increased performance-related compensation in accordance with the growth of the business.
The cost-income ratio decreased by 6 percentage points to 71% compared to the business year 2013.