Pictet: Positive Inflows from Asia

Jacques de Saussure, Senior Managing Partner Pictet

The Swiss Pictet Group has released unaudited figures for 2015, ahead of the publication of the full annual report at the end of April 2016.

For the calendar year ended 31 December 2015, the Geneva based Pictet Group reported a 3 percent rise in operating income to 2.124 billion Swiss francs, and a 2 percent fall in consolidated net profit to 452 million francs, according to a press release sent on Friday.

Assets under management or custody amounted to 437 billion francs at 31 December 2015 (up 2 billion francs from 1 January 2015). For the full year, net new money reached 14.6 billion francs.

Asia Weighs in

«We have seen positive net inflows in all our strategic markets – Switzerland, European Union and Asia – and from each business line - wealth management, asset management and asset services. This growth reflects our focus on clients’ long term interests and our ability to adapt to a changing environment,» said Jacques de Saussure, Senior Managing Partner.

The Geneva based private bank and asset manager lost one of its senior bankers in Singapore last October when Anuj Khanna, who had been the South Asia Head of Wealth Management, quit after three years with the bank.  

Strong Capital Base

The core tier 1 capital ratio is 22.1 percent (based on 2.15 billion francs of core tier 1 equity, which is the strongest form of equity), while the liquidity coverage ratio is 195 percent, both at 31 December 2015.

Pictet’s ratios compare with the minimum 4.5 percent core tier 1 capital ratio and the minimum 100 percent liquidity coverage ratio required by Basel III. Pictet’s Swiss regulator Finma requires a minimum core tier 1 capital ratio of 7.8 percent.

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