Pictet announces first half 2016 figures Freitag, 26. August 2016 - 10:48
The Pictet Group today released unaudited figures for the first half of 2016, showing an operating income of CHF 1,033 million, operating results of CHF 244 million and a consolidated net profit of CHF 191 million.
These figures are respectively 1.3%, 14.3% and 15.5% lower compared to the same period in 2015.
Assets under management or custody amounted to CHF 436 billion at 30 June 2016 (against CHF 437 billion at 31 December 2015, as healthy net inflows were offset by foreign exchange and market effects).
The core tier 1 capital ratio has risen to 22.3% (based on CHF 2,51 billion of Common Equity Tier 1 (CET1), the strongest form of equity).
Pictet’s ratios compare with the minimum 4.5% core tier 1 capital ratio stipulated by the Basel III regulations. Pictet’s Swiss regulator FINMA requires a minimum core tier 1 capital ratio of 7.8%.
Nicolas Pictet, senior managing partner, said: “The Pictet Group’s partnership structure, its strong balance sheet and capital ratios allow us to concentrate on creating value for the long term. We have therefore continued investing in the first half of 2016 in our staff and infrastructure despite weak markets, low trading volumes and negative interest rates, all of which adversely affected profitability.”