Do, 15. Februar 2024
Lombard Odier, the esteemed Geneva-based bank, reports a slight profit decrease in 2023 amidst strategic investments, despite a rise in operating income.
Lombard Odier, the renowned private bank from Geneva, saw its operating income climb last year. Yet, the net profit turned downward due to strategic investments aimed at long-term success. In a recent announcement, the bank disclosed that its operating income reached 1.40 billion Swiss francs in 2023, marking a 1.6% increase from the prior year. However, the consolidated net profit witnessed a decline of about 9% from the previous year, settling at 221 million francs.
The bank’s strategic decisions focused on enhancing its investment offerings, upgrading its banking technology platform, and expanding its workforce. These investments are seen as pivotal for the bank’s enduring prosperity.
Despite these expenditures, Lombard Odier maintained a stable level of client assets under management (AuM), which stood at CHF 193 billion at 2023’s end, nearly mirroring the previous year’s figure. This steadiness resulted from a balance between positive net new money inflows and favorable market movements, which effectively counteracted the adverse currency impacts. The total assets the bank’s clients held amounted to CHF 296 billion by the year’s end.
Lombard Odier prides itself on a robust, liquid, and cautiously invested balance sheet. A noteworthy highlight is the CET1 ratio, which reached 32% at the fiscal year’s close, positioning Lombard Odier among the top in the industry for financial solidity.
With a legacy dating back to 1796, Lombard Odier has grown to employ approximately 2,900 individuals across 26 branches in 19 countries. As 2024 unfolds, the bank remains guardedly optimistic about its economic outlook, underpinned by its strong foundation and strategic investments to foster growth and resilience in the ever-evolving financial landscape.
©Keystone/SDA
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