Vontobel Wants Doubling Of Asian Business By 2020

Zurich headquartered bank Vontobel yesterday posted their first half figures for the year. The bank attracted strong inflows of new money of CHF 6.4 billion and along with growth and enhanced efficiency this resulted in a 33 percent rise in net profit.

Like many other European based banks Asia has become a crucial hinterland for Vontobel. In a statement the bank said Vontobel will place a particular focus on emerging markets in Asia Pacific and will strive to at least double its current business volume in the region by 2020. This shall be achieved by pursuing the proven niche strategy – without cost-intensive local booking centres of its own – in all of its three divisions.

"With these growth plans, we are demonstrating the strategic importance of the Asia Pacific growth region for our business," stated Herbert J. Scheidt, Chairman of the Board of Directors, as he commented on Vontobel’s increased expansion plans.

Vontobel Financial Products further strengthened its reputation as a first-class provider of customised investment solutions for financial intermediaries and other clients. With its leading technology, Financial Products will continue its international expansion with a particular focus on Asia. Vontobel continued to expand the deritrade® Multi Issuer Platform – its marketplace for structured products. In Asia the bank is working to successfully establish the platform business and has already attracted seven renowned distributors and four major issuers in the region.

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