Pictet announces first half 2019 figures
Assets under management or custody amounted to CHF 544 billion at 30 June 2019, against CHF 496 billion at 31 December 2018.
The core tier 1 capital ratio has risen to 21.2% (with CHF 3.0 billion in Common Equity Tier 1 (CET1) on the balance-sheet, the strongest form of equity).
The Basel III regulations stipulate a minimum core tier 1 capital ratio of 4.5%. The Pictet Group’s Swiss regulator FINMA requires a minimum core tier 1 capital ratio of 7.8%.
Renaud de Planta, Senior Partner, said: “Negative interest rates and a defensive stance on the part of investors had an impact on results in the first half of the year. Nevertheless, we have continued to invest strongly in our people and technology during 2019.”