Vontobel beats profit forecasts on strong markets, lower costs (updated)

Vontobel Holding AG

24/07/2026 06:14

Adds cost-income ratio in paragraph 2, appointments in paragraph 8-9

    ZURICH, July 24 (Reuters) - Swiss bank Vontobel VONN.S on Friday reported a net profit of 216 million Swiss francs ($264 million) for the first half of 2026, up 87% year-on-year and beating a company-provided consensus forecast of 168 million francs.
Vontobel's cost-income ratio improved by 10% from a year earlier to 67.9%, driven by strong markets and an efficiency program progressing ahead of plan, the bank said.

    "Higher revenues, driven by increased client activity, and a lower cost base supported our strong profit growth," Vontobel Co-CEOs Christel Rendu de Lint and Georg Schubiger said.
Net new money totalled 2.5 billion Swiss francs, slightly short of forecasts, with the private client segment contributing all of it, the bank added in its results presentation.
The institutional clients segment saw net flows of zero due to outflows linked to Raiffeisen and Quality Growth funds, Vontobel said. The bank had faced a string of withdrawals by institutional investors last year.
Annualised net new money growth in the first half of 2026 was 2.1%, against a target of 4%-6% over the bank's financial cycle, which has no specified date.
The bank's assets under management rose 5% to 252.2 billion francs by the end of June 2026.
Separately, Vontobel announced that Antoine Boublil will join the bank as chief financial officer in August 2026.
Vontobel also said it is extending its executive committee by adding Gianpiero Galasso, head private clients Europe & Middle East, Andrew Jackson, head investments, and Christoph von Reiche, head institutional clients, as new members.
     
($1 = 0.8172 Swiss francs)

(Reporting by Ariane Luthi, Editing by Miranda Murray and Varun H K)
((Ariane.Luthi@thomsonreuters.com;))