Vontobel to take additional cost-cutting measures as profit falls

Vontobel Holding AG

08/02/2024 06:04

ZURICH, Feb 8 (Reuters) - Vontobel Holding  VONN.S  saw
its full-year net profit fall 6.5%, the Swiss private bank and
asset manager said on Thursday, as it vowed to take additional
measures to cut annual costs by 100 million Swiss francs. 
    Group net profit fell to 215 million Swiss francs  ($246.28
million) from 230 million francs a year earlier, beating
estimates by Zuercher Kantonalbank for 182.7 million francs.

($1 = 0.8730 Swiss francs)

 (Reporting by Noele Illien
Editing by Miranda Murray)
 ((Noele.Illien@thomsonreuters.com; +41 41 528 39 73;))