The Pictet Group today released unaudited figures for the full year 2021, ahead of the publication of its annual report end of April.
For the calendar year ended 31 December 2021, the Pictet Group reported a rise of 13% in its operating income to CHF 3.251 billion, and a 75% rise in consolidated net profit to CHF 1,008 million.
The net profit includes an extraordinary gain from the sale and lease back transaction that Pictet executed during the year concerning its main building in Geneva. The operating result, which excludes this one-off gain, was CHF 924 million (+33% compared to 2020).
“2021 was an excellent year for Pictet. Market conditions were very positive and assets entrusted to us reached an all-time high. We benefited from our clear focus on bringing investment leadership and bespoke services to our clients. This commitment will continue in 2022 with record investments in talent and technology.”
Assets under management or custody rose by 15% to an all-time high of CHF 698 billion at 31 December 2021 from CHF 609 billion at 31 December 2020. This is due to market developments, strong investment performance and the highest ever net new money across all business units of the Pictet Group. Net new money amounted to over CHF 29 billion in 2021.
The Group’s regulatory liquidity and capital ratios remain very solid. At 31 December 2021, the liquidity coverage ratio was 164%, compared to the 100% required by Basel III. With CHF 2.67 billion of regulatory capital, the 22.7% total capital ratio was comfortably above the 12% requirement set by Pictet’s Swiss regulator FINMA.
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