Mirabaud reports 28% rise in profit

Swiss private bank Mirabaud has reported a 28% rise in net profit for 2017, boosted by new business and an uptick in the market.

In its full-year results for last year the Geneva-based group recorded net profit rose to 40.5 million Swiss francs (€34.5 million) while revenue rose 5% to 305.3 million francs.

Assets under management, meanwhile, rose 11% to 33.3 billion francs, up from 31.2 billion francs in 2016.

“During 2017, our private banking activities made excellent progress both in Switzerland and in Europe, including the UK, in Dubai and in Canada,” said senior managing partner Yves Mirabaud.

He added that over the coming year the group would carry on with “carefully selected investments across its business lines and markets in order to continue to offer its clients services of the highest quality”.

©2018 funds europe

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