Geneva Bank Lombard Odier reports net profits rise in H1

Geneva-based private bank Lombard Odier has reversed a fall in profits last year to post a 13% year-on-year rise for the first half of 2017. Figures published today show consolidated net profits for the six months to the end of June were 69 million Swiss francs (€60.4 million). 

In a statement, the bank, one of Switzerland’s oldest, said that market performance had lifted assets as global protectionist threats and European political risks diminished. Total client assets stood at 242 billion Swiss francs at the end of June, up from 233 billion francs at the end of 2016. The rise in profits so far this year compares with a 13% fall in net profits for the whole of 2016. 

Senior managing partner Patrick Odier called the interim results “a positive start to the year” that “reflects the constant improvement in our offering and client servicing, our investments in technology and digital solutions, and our strategy to serve an international and demanding client base”.
“We will continue investing for growth, as we look ahead to our 222nd anniversary in 2018, and the strategic move of our headquarters to a new single site in Bellevue, Geneva.”