Private bank Vontobel has done well in 2018. Still, the Swiss-based banks decided to keep the dividend unchanged this year.

Net income at Swiss-based Vontobel rose 11 percent to 232.2 million Swiss francs ($232 million) in 2018, the company said in a statement on Tuesday. Stripped of the integration costs from the Notenstein La Roche takeover, Vontobel had a profit of 249.2 million francs, an increase of 14 percent.

Increase in AuM

Assets under management (AuM) rose to 192.6 billion francs as of the end of 2018, up from 186.6 billion, despite falling asset prices in the fourth quarter. Net new money was 5 billion francs, compared with 5.9 billion a year ago.

The board of Vontobel decided to pay a dividend of 2.10 francs per share, unchanged from a year earlier.