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%.
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