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H1 2022 results: Mirabaud Group announces operating profit of CHF 23.5 million

Geneva, 29 August 2022 – The Group’s performance to 30 June 2022 was resilient given market corrections and the international context. Operating profit stands at CHF 23.5 million for the first half of the year. The Group’s consolidated net profit reached CHF 19.1 million (-9.5% compared to H1 2021).

As at 30 June 2022, assets under management totalled CHF 33.2 billion, of which CHF 8.0 billion was attributable to Asset Management. The Group’s assets were CHF 38.9 billion six months earlier.

At the end of the first half-year, revenues amounted to CHF 149.1 million (CHF 152.8 million for the same period in 2021) and included a fee and commission income of CHF 121.1 million (CHF 127.0 million as at 30 June 2021), a trading result of CHF 16.6 million (CHF 13.9 million as at 30 June 2021) and an increased net interest income of CHF 10.7 million (CHF 8.2 million as at 30 June 2021). Operating expenses fell to CHF 121.4 million (CHF 123.8 million as at 30 June 2021), excluding depreciation, amortisation and taxes. Operating profit amounts to CHF 23.5 million (CHF 25.0 million as at 30 June 2021). Consolidated net profit reached CHF 19.1 million (CHF 20.9 million for the same period in 2021).

The consolidated balance sheet totals CHF 4,285 million. The Group’s liabilities consist primarily of customer deposits. The majority of the assets are deposited with the Swiss National Bank or invested in top-rated, shortterm government bonds, which ensure liquidity, security and a solid return. The Group has a Tier 1 ratio of 21.6%, well above the required minimum level and stable compared to 2021 (21.3%).

”During the first half of the year, market corrections and volatility weighed on our asset base but our revenues remained relatively stable. In this turbulent macroeconomic and geopolitical climate, all of Mirabaud’s teams are demonstrating an increased impetus to be agile, to listen and to innovate so as to serve the best interests of our clients,” states Senior Managing Partner Yves Mirabaud.

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