Brief: Vontobel Holding FY Pre-Tax Profit At CHF 267.4 Mln

Vontobel Holding AG

08/02/2023 05:59

Feb 8 (Reuters) - VONTOBEL HOLDING AG  VONN.S :
    * DIVIDEND OF CHF 3.00 PER SHARE, UNCHANGED FROM PRIOR YEAR,
PROPOSED TO GENERAL MEETING OF SHAREHOLDERS
    * ASSETS UNDER MANAGEMENT DOWN 16 PERCENT TO CHF 204.4
BILLION
AFTER RECORD YEAR 2021; DECLINE MAINLY REFLECTS MARKET SITUATION
    * FY PROFIT AFTER TAXES OF CHF 229.8 MILLION, COMPARED TO
CHF
383.8 MILLION IN RECORD YEAR 2021
    * FY PRE-TAX PROFIT OF CHF 267.4 MILLION, COMPARED TO CHF
467.2
MILLION IN PRIOR YEAR
    * VONTOBEL IS PURSUING AMBITIOUS MID-TERM PROFIT AND GROWTH
TARGETS AND CONSISTENTLY IMPLEMENTING PRIORITIES AS IT WORKS
TOWARDS LIGHTHOUSE AMBITION 2030
    * VONTOBEL WANTS TO ACHIEVE FURTHER CAPITAL-LIGHT GROWTH IN
2023,
PRIMARILY BASED ON BUSINESS WITH RECURRING REVENUES, WHILE
MAINTAINING A CONSERVATIVE RISK PROFILE
    * MEASURES TO CONTAIN COSTS ALREADY INTRODUCED IN 2022;
ADDITIONAL
GROSS COST REDUCTIONS OF CHF 65 MILLION EXPECTED BY END-2023
    * FY  RETURN ON EQUITY OF 11.2 PERCENT
    * FY CET1 CAPITAL RATIO OF 16.7 PERCENT AT END-2022
    * FY NET NEW MONEY GROWTH OF 5.6 PERCENT IN WEALTH
MANAGEMENT,
WITHIN TARGET RANGE
    * FY NET NEW MONEY WAS NEGATIVE OVERALL AT -2.1 PERCENT
    * FY OPERATING INCOME TOTALED CHF 1,285 MILLION
    * FY ANTICIPATES THAT 2023 WILL BE ANOTHER CHALLENGING
PERIOD
    * ANTICIPATES THAT 2023 WILL BE ANOTHER CHALLENGING PERIOD

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