Pictet announces first half 2020 figures
The Pictet Group released unaudited figures for the first half of 2020 showing operating income of CHF 1.328 billion (+4% compared to the first half of 2019), total expenses before tax of CHF 1.009 billion (+7%) and a consolidated net profit of CHF 262 million (-1%).
Assets under management or custody stood at CHF 559 billion at 30 June 2020, compared with CHF 576 billion at 31 December 2019.
The core capital ratio (Tier 1) remained at 20.2% (based on CHF 2.89 billion of Common Equity Tier1 (CET1), the most solid form of capital) at 30 June 2020. This ratio compares with the minimum 7.8% core capital ratio (Tier 1) set by Pictet’s Swiss regulator FINMA.