Banque Privée Edmond de Rothschild Lugano

Our Bank remains on track in a daunting context

The success of Banque Privée Edmond de Rothschild SA has mainly been built on placing the interests of our clients at the centre of our concerns. Another factor has been our open architecture and the scope it provides to tap the best possible sources for investment products. These often include our in-house funds, which regularly win awards for their quality and performance.

Our figures are the best illustration of how solid we are: 2009 net profit totalled CHF 136.8 million, assets under management rose 12% and our BIS Tier 1 ratio worked out to 25.3%.

On track

Despite an extremely tough economic context and a year that would qualify as an "annus horribilis" for our profession, Banque Privée Edmond de Rothschild SA remained on track thanks to our situation as a family-controlled wealth management company with a stable shareholder base. We continued to strive for excellence at all levels by reinforcing our core business and by enhancing our organisational structure. Investing resolutely in the future, we recruited more teams of wealth management professionals to serve our clients better.

Undiminished earning power

Our thanks go to our clients for their abiding trust and to fresh endorsements drawn to our management style. Because we resist the siren song of short-term profits, we have been able to maintain our fundamentals. Undeterred by recession, by upheavals in our country's framework conditions and by the inclination felt by everyone, including ourselves, to favour cash and risk-free assets, the Banque Privée Edmond de Rothschild Group posted a net profit of CHF 136.8 million at 31 December 2009.

Thanks to a significant rise in assets under management to CHF 92.2 billion at 31 December 2009, the Banque Privée Edmond de Rothschild Group can count on undiminished earning power.

Large inflow of fresh capital

Aided by a prudent investment policy and dynamic business performance, our wealth management operations continued to grow last year. The net inflow of fresh funds totalled CHF 5.6 billion.

Solid capital ratio

The Banque Privée Edmond de Rothschild Group can continue to claim an extremely healthy, liquid balance sheet featuring very little leverage, conservative risk management and solid financial foundations, as illustrated by our BIS Tier 1 ratio of 25.3%.

Discover Banque Privée Edmond de Rothschild Group figures

Key figures of Banque Privée Edmond de Rothschild Group

December, 31 2009

2009 2008 Change
      (CHF) (%)
Consolidated profit and loss account (in thousands of CHF)
       
Interest income, net 66'532 111'283 (44'751) (40.2)
Fee and commission income, net 476'050 561'718 (85'668) (15.3)
Results of trading operations 102'275 116'524 (14'249) (12.2)
Operating expenses (personnel costs and overheads) 468'026 508'371 (40'345) (7.9)
Group net income 136'814 201'017 (64'203) (31.9)
Profitability
       
Return on equity (%)
net profit / average shareholders’ equity after appropriation of parent compagny's earnings
11.5 17.8 - -
Return on assets (%)
net profit /average assets
1.1 1.6 - -
Shares (CHF)
       
Earnings per bearer share after deducting portion due to minority interests 1'407 2'019 (612) (30.3)
Earnings per registered share after deducting portion due to minority interests 281 404 (123) (30.3)
Consolidated balance sheet (in thousands of CHF)
       
Due from banks 7'020'347 5'787'142 1'233'205 21.3
Advances to customers 1'441'037 1'627'652 (186'615) (11.5)
Due to banks 352'390 440'298 (87'908) (20.0)
Customer deposits 10'560'194 10'271'650 288'544 2.8
Shareholders’ equity (1) 1'314'273 1'252'407 61'866 4.9
Balance sheet total 12'739'900 12'989'491 (249'591) (1.9)
Assets under management (in millions of CHF)
       
Total assets under management (includes double reporting) 92'204 82'298 9'906 12.0
of which: - double reporting
Net inflow of fresh funds
10'078
5'633
8'449
5'398
1'629
235
19.3
4.4
Group personnel (number of employees)
       
Average number of employees
- in Switzerland
- abroad
1'598
643
955
1'517
607
910
81
36
45
5.3
5.9
4.9
Total number of employees at year-end 1'614 1'587 27 1.7
Number of employees at year-end (converted into full-time jobs) 1'570 1'555 15 1.0

(1) Including Group net income before payment of dividend by parent company and minority interests.


Discover Banque Privée Edmond de Rothschild Geneva figures

Key figures of Banque Privée Edmond de Rothschild

2009 2008 Change
      (CHF) (%)
Balance sheet (in thousands of CHF)
       
Due from banks 2'531'441 1'299'505 1'231'936 94.8
Advances to customers 487'284 480'973 6'311 1.3
Due to banks 387'202 247'775 139'427 56.3
Customer deposits 4'696'906 2'350'810 2'346'096 99.8
Shareholders’ equity (after appropriation) 625'575 586'931 38'644 6.6
Balance sheet total 6'197'568 4'106'037 2'091'531 50.9
Profit and loss account (in thousands of CHF)
       
Interest income, net 22'401 31'672 (9'271) (29.3)
Fee and commission income, net 176'207 187'165 (10'958) (5.9)
Results of trading operations 35'197 31'535 3'662 11.6
Operating expenses (personnel costs and overheads) 202'888 207'057 (4'169) (2.0)
Net income 118'500 159'323 (40'823) (25.6)
Staff
       
Number of employees at year-end (converted into full-time jobs) 549 513 36 7.0
Profitability
       
Return on equity (%)
net profit / average shareholders’ equity after profit appropriation
19.5 28.4 - -
Return on assets (%)
net profit / average assets
2.3 4.7 - -
Shares
       
Dividend (in thousands of CHF) 81'000 108'000 (27'000) (25.0)
Dividend (% of share capital) 180 240 (60) (25.0)
Stock market capitalisation (in thousands of CHF) 2'109'450 2'173'000 (63'550) (2.9)
Data per bearer share :        
- Net income per share (CHF) 1'317 1'770 (453) (25.6)
- Dividend (CHF) 900 1'200 (300) (25.0)
- Quoted price at 31.12 (CHF) 25'725 26'500 (775) (2.9)
- Gross yield (%) 3.5 4.5 - -

The Bank’s registered shares are reported at their 31 Dec. 2009 value less 20%.


Discover Banca Privata Edmond de Rothschild Lugano S.A. figures

Banca Privata Edmond de Rothschild Lugano S.A. figures

  2009 2008 2007
(in thousands of CHF)
     
Balance sheet total 666'041 509'317 323'598
Customer deposits 461'882 281'997 125'163
Shareholders' equity 132'354 138'507 117'925
Return on equity 17.0 % 19.0 % 18.0 %
Average number of employees 79 81 81
Net commission income 32'009 35'162 34'709
Net interest income 4'263 6'576 6'512
Group net income 18'847 32'582 18'346
News and Comments
Sweet and sour diet
6/30/2010 | Viewpoint
Sweet and sour diet
Going on a diet rarely puts people in a good mood, although it does do their cardiovascular system a world of good. Post-developed populations are prone to obesity, no denying that, and public and private debt suffer from the same tendency.
Contact
Banca Privata
Edmond de Rothschild
Lugano S.A.
Via Ginevra 2
CP 5882
6901 Lugano
Switzerland
Phone + 41 91 913 45 00
Fax + 41 91 913 45 01
info@privata.ch