Brief: Vontobel Holding AG - Profit Before Tax up 12%

Vontobel Holding AG

26/07/2024 06:03

July 26 (Reuters) - VONTOBEL HOLDING AG  VONN.S :
    * H1 COST INCOME RATIO DOWN 1.7 PERCENTAGE POINTS, ON TRACK
TO
ACHIEVE GROSS  COST REDUCTIONS OF CHF 100 MILLION BY END-2026
    * H1 ASSETS UNDER MANAGEMENT UP 9 PERCENT TO CHF 225.9
BILLION
    * PROFIT BEFORE TAX (PBT) UP 12 PERCENT, REACHING CHF 173.3
MILLION
    * H1 NET NEW MONEY OF CHF 2.3 BILLION, DRIVEN BY STRONG
PRIVATE
FLOWS AND A  HALT IN INSTITUTIONAL OUTFLOWS
    * ON TRACK TO ACHIEVE GROSS  COST REDUCTIONS OF CHF 100
MILLION BY
END-2026
    * H1 CET1 RATIO WAS 18.3 PERCENT (15.5 PERCENT PRO-FORMA FOR
THE
ANCALA ACQUISITION), AND THE TIER 1 RATIO  23.6 PERCENT (20.6
PERCENT PRO-FORMA)
    * H1  OPERATING INCOME WAS CHF 727.7 MILLION, UP 4 PERCENT,
MAINLY
DRIVEN BY HIGHER CLIENT ACTIVITY
    * H1 2024 ROE 12.3% VERSUS 12.5% H1 2023
    * H1 GROUP NET PROFIT (INCL. MINORITIES) CHF 130.3 MILLION
    * H1 PROFIT BEFORE TAXES CHF 173.3 MILLION VERSUS H1 2023
154.2
MILLION

Further company coverage:  VONN.S 

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 ((gdansk.newsroom@thomsonreuters.com))