Swiss private bank Lombard Odier has reported a consolidated net profit of CHF146m for the year ended December 2017, an increase of 17% compared to last year.
As at 31 December 2017, the wealth manager’s total client assets stood at CHF274bn, a jump of 17% over CHF233bn reported a year ago. Net new money flows during the year were ‘robust’, the bank said in its earnings statement.
Operating income increased 6% year-on-year to CHF1.1bn. The bank attributed the rise to growth in assets and increase in client activity.
The group’s CET1 ratio and liquidity coverage ratio stood at 26.5% and 187%, respectively, at the end of December 2017.
Lombard Odier senior managing partner Patrick Odier said: “Our improved results in 2017 reflect the positive impact of new client acquisitions as well as the strong markets we have seen during the year.
“Our focus for 2018 is on delivering excellence and value for our clients and continuing to grow our franchise in Switzerland and internationally. We will continue our relentless focus on our clients while maintaining at all times our strong balance sheet.”