Total client assets increased by 17% reflecting a relentless focus on clients.

Increased client assets and positive net new money

Total client assets grew across the business to reach CHF 274 billion at end-2017 versus CHF 233 bn in 2016. Net new money flows were robust and market performance also had a strong impact.

Growth in operating income and earnings

Operating income for 2017 was CHF 1.1 bn, up 6% from a year earlier due to the growth in assets and to an increase in client activity across the business.

Consolidated net profit was at CHF 146 million, up 17% from 2016.

Solid balance sheet and capitalisation

The Group’s balance sheet remains strong, highly liquid and conservatively invested, totalling CHF 16.9 bn. The Group has no external debt and is very well capitalised, with a CET1 ratio of 26.5% at end-2017. The Group maintained its Fitch rating at AA- and had a liquidity coverage ratio of 187% at the end of the year.

“Our improved results in 2017 reflect the positive impact of new client acquisitions as well as the strong markets we have seen during the year,” said Patrick Odier, Senior Managing Partner.

“Our focus for 2018 is on delivering excellence and value for our clients and continuing to grow our franchise in Switzerland and internationally. We will continue our relentless focus on our clients while maintaining at all times our strong balance sheet.”