The Pictet Group today released unaudited figures for the full year 2016, ahead of the publication of the full annual report at the end of April 2017.
For the calendar year ended 31 December 2016, the Pictet Group reported a 2% rise in operating income to CHF 2.177 billion, and a 7% fall in consolidated profit to CHF 422 million.
Assets under management or custody amounted to CHF 462 billion at 31 December 2016 (up CHF 25 billion from 1 January 2016). For the full year, net new money reached CHF 12.4 billion.
The core tier 1 capital ratio is 20.4% (based on CHF 2.16 billion of core tier 1 equity, which is the strongest form of equity), while the liquidity coverage ratio is 166%, both at 31 December 2016.
Pictet’s ratios compare with the minimum 4.5% core tier 1 capital ratio and the minimum 100% liquidity coverage ratio required by Basel III. Pictet’s Swiss regulator FINMA requires a minimum core tier 1 capital ratio of 7.8%.
Commenting these figures, Nicolas Pictet, senior managing partner, said, "In 2016 we have seen encouragingly strong net inflows of new money on both the wealth and the asset management side, and although market conditions remain demanding, we believe we are in a strong competitive position."