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2023 1st half-year: Mirabaud announces results in line with its strategic objectives and continues to demonstrate its solid financial position

Geneva, 31 August 2023 – As at 30 June 2023, the Group has posted a consolidated net profit of CHF 19.2 million, thanks in particular to a 9% increase in revenues. Mirabaud reports a resilient performance against the backdrop of a stronger Swiss franc, in line with its strategic objectives and continuing its investment cycle.

As at 30 June 2023, assets under management totalled CHF 31.2 billion, of which CHF 7.1 billion was attributable to Asset Management. Group assets were CHF 31.5 billion six months earlier.

At the end of the first half-year, revenues amounted to CHF 162.2 million (CHF 149.1 million for the same period in 2022) and included fee and commission income of CHF 101.3 million (CHF 121.1 million as at 30 June 2022), income from trading activities of CHF 12.9 million (CHF 16.6 million as at 30 June 2022) and increased net interest income of CHF 38.2 million (CHF 10.8 million as at 30 June 2022). Operating expenses increased, to CHF 123.1 million (CHF 121.4 million as at 30 June 2022). Operating profit amounts to CHF 24.1 million (CHF 23.5 million as at 30 June 2022). Consolidated net profit recorded a total of CHF 19.2 million (CHF 19.1 million for the same period in 2022).

The consolidated balance sheet total stands at CHF 2,513 million. The Group’s liabilities consist primarily of client deposits. The majority of the Group’s assets are deposited with the Swiss National Bank or invested in top-rated, short-term government bonds, which ensure liquidity, security and a solid return. The Group has a Tier 1 ratio of 20.3%, well above the required minimum level and stable compared to 31 December 2022 (20.6%).

Strategic objectives and continuation of the investment cycle

"Our performance in the first half of the year is in line with our long-term strategic objectives and also reflects the prudent and high-quality management of our balance sheet" says Yves Mirabaud, Senior Managing Partner.

The Mirabaud Group continues its cycle of major investments to support long-term quality growth. In Private Banking, the investments support the bespoke service provided to its clients, both by hiring bankers for its key markets and by strengthening its service platform. The Group’s Asset Management business is continuing to develop its range of active and sustainable solutions in both liquid strategies (equities, bonds, including con- vertible and multi-asset strategies) and Private Asset solutions.

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