Vontobel reports $2.9 billion in net new money for 2024, missing forecasts

Vontobel Holding AG

07/02/2025 06:57

ZURICH, Feb 7 (Reuters) - Vontobel Holding  VONN.S  on
Friday reported 2.6 billion Swiss francs ($2.87 billion) in net
new money for full-year 2024, falling short of a forecast for
4.1 billion francs in a company-provided consensus.
    The Swiss private bank and asset manager said outflows from
institutional clients slowed to 2.9 billion francs in 2024 from
7.6 billion francs in 2023. The bank's consensus forecast had
been for outflows of 0.4 billion francs for 2024.
    The bank noted Vontobel had returned to growth in net new
money in 2024 from a negative figure in 2023. 
    Assets under management stood at 229 billion francs in 2024,
up 11% from the end of 2023, mostly driven by positive market
performance.
    The bank reported a net profit of 266 million francs for
2024, up 24% year-on-year and said it had successfully executed
an efficiency program, improving cost-income ratio to 74.7%. 
    A year ago, Vontobel announced plans to cut annual costs by
100 million Swiss francs as profits fell.

($1 = 0.9060 Swiss francs)


($1 = 0.9061 Swiss francs)

 (Reporting by Ariane Luthi)
 ((Ariane.Luthi@thomsonreuters.com;))