Private Bank Pictet Holds Ground Amid Currency Headwinds
Stable profits, resilient capital base, and steady client inflows define the Geneva-based group’s first-half 2025 results.
Pictet Group reported operating income of 1.57 billion francs for the first half of 2025, unchanged from the previous year. Expenses fell 2 percent to 1.15 billion francs, helping lift profit to 331 million francs, a 3 percent increase compared with the first half of 2024.
The bank’s positive client momentum and investment performance were tempered by a weaker dollar, which eroded asset values. Assets under management and custody stood at 711 billion francs at the end of June, down 2 percent from December 2024.
Leadership Reaffirms Strategy
Pictet maintained one of the sector’s most robust balance sheets. Total equity reached 3.34 billion francs, while its capital ratio stood at 24.3 percent – double the minimum required by Swiss regulator FINMA.
Marc Pictet, Senior Managing Partner, highlighted the group’s resilience in the face of geopolitical uncertainty and currency swings: «We will continue to invest in talent and technology to drive superior investment results and an exceptional client experience».
Focus on Core Business Model
True to its long-standing strategy, Pictet steered clear of investment banking and commercial lending, concentrating instead on wealth management, asset management, alternative investments, and related services. Founded in 1805, the Geneva-based group now employs 5,500 people across 31 offices worldwide.
