Swiss wealth manager Vontobel's HY revenue rises on increased client activity

Vontobel Holding AG

24/07/2026 06:08

    

    Overview
  
Switzerland wealth manager's half-year profit rose 87% and revenue grew 24% yr/yr
Cost-income ratio improved to 67.9% from 77.9% on higher client activity, efficiency gains
Assets under management rose 5% to CHF 252.2 bln

    

    Outlook
  
Vontobel expects its CHF 100 mln efficiency program to be completed by year-end
Company plans to launch new fixed income products in second half of 2026
Vontobel maintains strong capital position with CET1 ratio comfortably above regulatory requirements

    

    Result Drivers
  
CLIENT ACTIVITY - Co said higher revenues were driven by increased client activity
EFFICIENCY PROGRAM - Co said its CHF 100 mln efficiency program reduced expenses and improved cost-income ratio
PRIVATE CLIENTS GROWTH - Net new money inflows in Private Clients segment contributed to overall growth, with all regions recording inflows

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
H1 CET1 Capital Ratio
 
23.20%
 
H1 ROE
 
16.90%
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Vontobel Holding AG is CHF75.50, about 4.6% below its July 23 closing price of CHF79.10
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

    

    Reuters Recommended Reads
  
July 21 - Switzerland's Julius Baer H1 net profit more than doubles, helped by high client activity
July 22 - Swiss bank EFG International reports lower-than-expected half-year profit growth
July 23 - Switzerland's Bellevue H1 profit rises on lower expenses

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)