Swiss bank Vontobel drops as FY net new money figure disappoints

Vontobel Holding AG

07/02/2025 09:19

** Swiss bank Vontobel  VONN.S  down 3% after
worse-than-expected FY results, as the company said net new
money (NNM) in its institutional segment was weighed down by net
outflows in emerging market equities and bonds
    ** The private bank and asset manager reported NNM of CHF
2.6 billion ($2.87 billion) versus consensus expectations of CHF
4.1 billion, with a CET1 capital ratio at 16.1% versus consensus
expectations of 17.0%
    ** Gian Luca Ferrari, analyst at Mediobanca, points to the
negative NNM in the bank's institutional segment as weighing on
shares
    ** UBS analyst Mate Nemes points to substantial outflows
from Asset Management in both H2 24 and Q4 24, revenues in both
operating divisions only in line with expectations and a
material miss on capital ratios vs consensus, says it may impact
shares
    ** Shares are on track for their worst day since April 2024


($1 = 0.9056 Swiss francs)

 (Reporting by Bernadette Hogg)
 ((bernadette.hogg@thomsonreuters.com))