Swiss bank Bancaire Privée announced that assets under management increased by 8.8% in 2021 to 160.4 billion Swiss francs ($ 174.40 billion), mainly due to favorable market conditions and net capital inflows of 5, 7 billion Francs.
“These new funds come mainly from emerging markets, but especially from Asia, the Middle East and Eastern Europe, as well as the acquisition of Millennium Banque Privée, which was completed in the last quarter of the year,” he said.
Revenue rose 5.9% to 1.13 billion francs, boosted in part by a 10.6% increase in commissions, which offset the contraction in net interest margins in the current low-interest environment.
Net profit increased 11% to 201.2 million Francs.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
