RESULTS FOR THE FIRST HALF OF 2017: ASSETS UNDER MANAGEMENT AND PROFITS ON THE UP
At 30 June 2017, net assets under management had gone up by 4.5 % to reach CHF 31.2 billion, of which CHF 8.1 billion was attributable to Asset Management. This compares with CHF 29.9 billion of assets under management at 31 December 2016.
At the end of the first half of 2017, revenue amounted to CHF 151.6 million (CHF 139.5 million in the first half of 2016), including an interest margin of CHF 13.0 million (CHF 11.6 million in the first half of 2016), fees of CHF 116.9 million (CHF 108.0 million in the first half of 2016) and income of CHF 16.3 million from trading activities (CHF 16.3 million in the first half of 2016). Excluding operating expenses, the Group’s gross profit was CHF 26.8 million (CHF 21.5 million in the first half of 2016). Consolidated net income amounted to CHF 22.3 million (CHF 17.3 million in the first half of 2016).
The Group has a consolidated balance sheet total of CHF 4,191.2 million (CHF 4,326.8 million at 31 December 2016). Liabilities primarily consisted of customer deposits. Two-thirds of the Group’s assets were deposited with the Swiss National Bank or invested in high-grade short-term government bonds, which guarantees liquidity and security. The Group reported a tier 1 ratio of 20.6%, well in excess of the requisite minimum levels.
"These results show good returns on our investments and reflect the relevance of our strategy of controlled international development", says Senior Managing Partner Yves Mirabaud. "The Mirabaud Group’s financial soundness and structure enable us to offer our clients and partners excellent and innovative services founded on know-how accumulated over many years".