Vontobel Investor Relations July 28, 2022 Note: The information in this spreadsheet are compiled for information only. Figures in the most recent financial report are binding. Figures in this spreadsheet may differ from those originally published in our annual or half yearly reports due to, e.g., organizational changes or reclassifications.
Vontobel
VONTOBEL
1H22
2021
2H21
1H21
2020
2H20
1H20
2019
2H19
1H19
Income statement (CHF M)
Net interest income after credit losses
32.6
61.3
25.6
35.7
73.0
33.2
39.8
86.3
38.5
47.8
Net fee and commission income
440.4
974.8
499.1
475.7
869.6
439.6
429.9
875.8
459.0
416.8
Trading income and other income
213.1
499.5
231.3
268.2
323.0
169.7
153.3
299.8
138.8
161.0
Operating income
686.1
1,535.6
756.0
779.6
1,265.5
642.5
623.0
1,261.9
636.2
625.6
Personnel expense
326.2
734.7
353.5
381.2
640.0
325.7
314.3
637.2
321.2
316.0
General expense
123.3
225.4
113.9
111.5
199.8
96.2
103.6
216.3
108.6
107.6
Depreciation of property, equipment and intangible assets
50.2
100.4
51.0
49.4
98.6
50.8
47.8
100.1
49.3
50.8
Provisions and losses
6.0
7.9
3.8
4.0
6.2
4.9
1.3
1.6
- 0
1.6
Operating expense
505.7
1,068.4
522.2
546.2
944.5
477.6
466.9
955.2
479.1
476.1
Profit before taxes
180.4
467.2
233.8
233.4
321.0
164.9
156.1
306.7
157.1
149.6
Taxes
29.0
83.4
41.9
41.5
61.6
34.6
26.9
41.6
23.2
18.4
Group net profit
151.4
383.8
191.9
191.8
259.4
130.3
129.2
265.1
134.0
131.1
of which allocated to minority interests
- 0
10.0
- 0
10.0
16.8
9.2
7.5
14.1
7.6
6.4
of which allocated to shareholders
151.4
373.8
191.9
181.8
242.7
121.0
121.6
251.0
126.3
124.7
Adjustments to pre-tax profit (income)
- 0
- 0
- 0
- 0
- 0
- 0
-6.9
- 0
-6.9
Adjustments to pre-tax profit (expense)
9.1
- 0
9.1
5.5
1.4
4.1
11.8
3.9
7.9
Adjusted pre-tax profit
180.4
476.3
233.8
242.5
326.5
166.3
160.2
311.6
161.0
150.6
Client assets (CHF B)
Assets under management
208.6
243.7
243.7
244.2
219.6
219.6
193.4
198.9
198.9
186.0
Other advised client assets
13.5
16.3
16.3
21.7
20.4
20.4
15.4
16.5
16.5
16.6
Structured products outstanding
6.9
8.1
8.1
8.6
8.2
8.2
9.8
10.7
10.7
10.3
Advised client assets
229.0
268.1
268.1
274.5
248.2
248.2
218.6
226.1
226.1
212.9
Custody assets
27.0
28.6
28.6
28.8
64.0
64.0
61.5
62.3
62.3
59.2
Client assets
256.0
296.8
296.8
303.3
312.2
312.2
280.2
288.4
288.4
272.2
Net new money
-1.0
8.1
1.5
6.6
14.8
7.4
7.4
11.7
6.4
5.3
Personnel (full-time equivalents)
Employees
2,159.8
2,109.3
2,109.3
2,070.4
2,015.1
2,015.1
1,997.0
1,981.6
1,981.6
2,000.7
of which in Switzerland
1,738.3
1,694.8
1,694.8
1,669.2
1,640.5
1,640.5
1,636.6
1,636.8
1,636.8
1,666.1
of which abroad
421.5
414.5
414.5
401.2
374.6
374.6
360.4
344.8
344.8
334.6
Balance sheet (CHF M)
Assets
32,943.0
32,397.9
32,397.9
33,666.9
31,422.4
31,422.4
28,596.6
26,240.3
26,240.3
27,364.7
of which loans
7,115.8
7,102.5
7,102.5
6,956.6
6,378.6
6,378.6
5,385.9
5,046.2
5,046.2
5,136.3
of which goodwill and other intangibles
538.2
547.0
547.0
554.7
556.8
556.8
560.5
573.3
573.3
580.5
Liabilities
30,957.0
30,329.0
30,329.0
31,707.5
29,530.8
29,530.8
26,841.2
24,427.0
24,427.0
25,633.3
of which due to customers
15,207.3
14,793.3
14,793.3
14,645.9
14,646.5
14,646.5
12,244.2
10,506.4
10,506.4
11,304.1
Shareholders' equity (excl. minority interests)
1,986.1
2,068.9
2,068.9
1,959.4
1,891.6
1,891.6
1,755.4
1,813.3
1,813.3
1,731.3
Tangible book value
1,447.9
1,521.9
1,521.9
1,404.7
1,334.8
1,334.8
1,194.9
1,240.0
1,240.0
1,150.8
Leverage ratio (%)
5.0
4.9
4.9
4.5
4.6
4.6
4.8
5.2
5.2
4.9
Capital
Risk-weighted positions (CHF M)
6,414.5
6,617.3
6,617.3
7,452.7
7,447.5
7,447.5
7,037.7
7,039.3
7,039.3
7,540.4
Common equity tier 1 capital (CHF M)
1,186.5
1,100.7
1,100.7
1,078.4
1,024.4
1,024.4
972.3
949.4
949.4
924.9
Common equity tier 1 capital ratio (%)
18.5
16.6
16.6
14.5
13.8
13.8
13.8
13.5
13.5
12.3
Tier 1 capital (CHF M)
1,635.9
1,549.8
1,549.8
1,527.2
1,473.0
1,473.0
1,420.7
1,397.5
1,397.5
1,372.8
Tier 1 capital ratio (%)
25.5
23.4
23.4
20.5
19.8
19.8
20.2
19.9
19.9
18.2
Financial ratios (%)
Loan-to-deposit ratio
46.8
48.0
48.0
47.5
43.6
43.6
44.0
48.0
48.0
45.4
Share of fee and commission income
64.2
63.5
66.0
61.0
68.7
68.4
69.0
69.4
72.1
66.6
Cost/income ratio
72.8
69.1
68.6
69.6
74.1
73.6
74.7
75.6
75.3
75.8
Adjusted cost/income ratio
72.8
68.5
68.6
68.4
73.7
73.4
74.1
75.1
74.7
75.4
Personnel expense ratio
47.5
47.8
46.8
48.9
50.6
50.7
50.4
50.5
50.5
50.5
Tax rate
16.1
17.9
17.9
17.8
19.2
21.0
17.3
13.6
14.8
12.3
Return on equity
14.6
18.8
19.0
18.7
13.3
13.3
13.4
14.2
14.2
14.3
Return on tangible equity1
19.7
25.9
26.0
25.9
19.6
19.1
20.0
21.5
21.1
21.9
Return on CET1 capital1
26.2
34.0
35.0
33.1
24.8
24.2
25.3
27.6
27.0
28.3
Share
Share price (CHF)
67.10
79.90
79.90
72.10
70.20
70.20
66.45
69.15
69.15
54.30
Number of shares outstanding2
55,754,781
55,235,116
55,235,116
56,117,176
55,752,302
55,752,302
56,066,215
55,433,353
55,433,353
56,253,286
Undiluted weighted average number of shares
55,765,783
55,872,743
55,555,829
56,189,656
55,876,292
55,855,218
55,897,367
55,901,396
55,832,601
55,970,190
Market capitalization (CHF M)
3,741.1
4,413.3
4,413.3
4,046.0
3,913.8
3,913.8
3,725.6
3,833.2
3,833.2
3,054.6
Basic earnings per share (CHF)
2.71
6.69
3.45
3.24
4.34
2.16
2.18
4.49
2.26
2.23
Book value per share (CHF)
35.62
37.46
37.46
34.92
33.93
33.93
31.31
32.71
32.71
30.78
Tangible book value per share (CHF)
25.97
27.55
27.55
25.03
23.94
23.94
21.31
22.37
22.37
20.46
Dividend per share (CHF)
3.00
2.25
2.25
Dividend yield3 (%)
3.75
3.21
3.25
Payout ratio (%)
45
52
50
1 Full-year figures up to FY 2020 based on three point period end averages and half year figures based on period end averages
2 At end of period; shares issued net of treasury shares
3 Dividend per share / share price at year-end
Asset Management
ASSET MANAGEMENT
1H22
2021
2H21
1H21
2020
2H20
1H20
2019
2H19
1H19
Income statement (CHF M)
Net interest income after credit losses
-0.1
-0.3
-0.4
0.1
1.2
0.3
0.9
3.3
1.9
1.3
Net fee and commission income
247.7
592.6
303.6
289.0
511.9
265.3
246.6
505.2
269.7
235.5
Trading income and other operating income
-0.5
1.8
0.3
1.5
1.6
0.6
1.0
1.3
- 0
1.3
Operating income
247.1
594.1
303.6
290.5
514.6
266.2
248.5
509.8
271.6
238.1
Personnel expense
32.7
82.3
43.4
38.9
78.7
40.1
38.6
79.7
40.9
38.7
General expense
6.9
12.4
7.1
5.3
16.6
7.9
8.7
21.7
12.2
9.5
Depreciation of property, equipment and intangible assets
1.5
3.9
1.8
2.1
4.1
2.1
2.0
4.1
2.0
2.0
Provisions and losses
0.4
- 0
- 0
- 0
0.1
0.1
- 0
- 0
- 0
- 0
Operating expense
41.4
98.7
52.5
46.2
99.4
50.2
49.3
105.5
55.2
50.3
Profit before taxes
205.6
495.4
251.1
244.3
415.2
216.0
199.2
404.3
216.5
187.8
Client assets (CHF B)
Assets under management
118.3
142.9
142.9
147.6
134.6
134.6
119.7
121.1
121.1
111.9
Other advised client assets
12.2
15.8
15.8
21.2
19.8
19.8
15.1
16.1
16.1
16.0
- 0
Advised client assets
130.5
158.7
158.7
168.8
154.4
154.4
134.8
137.2
137.2
127.9
Average assets under management
131.7
142.0
144.8
139.6
122.8
127.0
118.1
112.5
116.8
108.2
Net new money
-4.0
1.9
-1.0
2.9
9.5
2.7
6.8
11.0
6.1
4.9
Personnel (full-time equivalents)
Employees
184.2
180.8
180.8
174.8
175.8
175.8
168.8
158.4
158.4
161.7
Financial ratios
NNM growth1 (%)
-5.7
1.4
-1.5
4.3
7.8
4.4
11.2
10.8
11.9
9.6
Operating income margin (bp)
38
42
42
42
42
42
42
45
47
44
1 Half-year figures are annualized
Wealth Management
WEALTH MANAGEMENT
1H22
2021
2H21
1H21
2020
2H20
1H20
2019
2H19
1H19
Income statement (CHF M)
Net interest income after credit losses
38.4
50.9
22.7
28.2
67.6
30.7
36.9
79.7
40.0
39.7
Net fee and commission income
216.4
432.1
218.6
213.5
403.2
204.8
198.5
379.3
191.1
188.1
Trading income and other operating income
65.4
150.7
69.0
81.7
78.8
38.3
40.6
99.0
48.1
50.9
Operating income
320.2
633.7
310.3
323.4
549.7
273.7
275.9
558.0
279.3
278.7
Personnel expense
89.7
202.7
107.0
95.7
188.5
97.4
91.0
182.5
91.5
91.0
General expense
10.7
16.3
9.7
6.6
15.2
7.3
7.9
18.4
8.7
9.7
Depreciation of property, equipment and intangible assets
4.0
8.0
3.6
4.4
7.7
3.9
3.9
9.4
4.5
4.9
Provisions and losses
2.3
5.2
3.5
1.7
1.4
0.6
0.8
0.8
0.1
0.6
Operating expense
106.6
232.3
123.9
108.4
212.8
109.2
103.6
211.1
104.8
106.3
Profit before taxes
213.6
401.5
186.5
215.0
336.9
164.5
172.4
346.9
174.5
172.4
Client assets (CHF B)
Assets under management
85.7
95.8
95.8
92.2
81.6
81.6
71.8
75.3
75.3
72.5
Other advised client assets
0.5
0.6
0.6
0.6
0.7
0.7
0.6
1.6
1.6
1.4
- 0
Advised client assets
86.2
96.3
96.3
92.8
82.3
82.3
72.4
76.9
76.9
73.9
Average assets under management
91.7
90.1
93.8
86.6
73.1
75.0
71.4
71.9
73.5
70.4
Net new money
3.0
5.6
2.5
3.1
4.9
4.3
0.6
0.6
0.3
0.3
Personnel (full-time equivalents)
Employees
608.4
609.1
609.1
611.5
601.2
601.2
618.3
618.2
618.2
626.2
of which relationship managers
301.9
297.3
297.3
301.6
302.9
302.9
296.3
291.4
291.4
296.9
Financial ratios
NNM growth1 (%)
6.3
6.9
6.1
7.6
6.5
11.4
1.6
0.9
0.9
0.9
Operating income margin (bp)
70
70
66
75
75
73
77
78
76
79
1 Half-year figures are annualized
Digital Investing
DIGITAL INVESTING
1H22
2021
2H21
1H21
2020
2H20
1H20
2019
2H19
1H19
Income statement (CHF M)
Net interest income after credit losses
0.7
0.5
0.1
0.4
-0.8
-1.1
0.3
3.8
2.4
1.4
Net fee and commission income
-4.6
-11.5
-11.8
0.3
27.2
18.5
8.7
8.0
3.8
4.2
Trading income and other operating income
124.9
326.9
162.1
164.8
157.1
76.8
80.2
149.1
69.1
80.1
Operating income
120.9
315.9
150.4
165.5
183.5
94.2
89.2
160.9
75.2
85.7
Personnel expense
3.9
10.9
5.7
5.2
5.1
3.4
1.7
3.2
1.7
1.5
General expense
3.0
1.6
0.9
0.7
1.9
1.6
0.3
0.5
0.3
0.3
Depreciation of property, equipment and intangible assets
0.1
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
Provisions and losses
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
Operating expense
7.0
12.5
6.6
5.9
7.0
5.0
2.0
3.7
1.9
1.8
Profit before taxes
113.9
303.4
143.7
159.7
176.5
89.2
87.2
157.2
73.3
83.9
Client assets (CHF B)
Assets under management
0.6
0.8
0.8
0.7
0.8
0.8
- 0
- 0
- 0
- 0
Other advised client assets
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
- 0
Advised client assets
0.6
0.8
0.8
0.7
0.8
0.8
- 0
- 0
- 0
- 0
Net new money
0.0
0.1
0.1
0.0
0.1
0.1
- 0
- 0
- 0
- 0
Personnel (full-time equivalents)
Employees
39.8
34.2
34.2
23.3
18.0
18.0
12.0
6.0
6.0
7.0
CoE - Reconciliation
CENTERS OF EXCELLENCE / RECONCILIATION
1H22
2021
2H21
1H21
2020
2H20
1H20
2019
2H19
1H19
Income statement (CHF M)
Net interest income after credit losses
-6.4
10.2
3.2
7.0
5.0
3.3
1.7
-0.5
-5.8
5.4
Net fee and commission income
-19.1
-38.4
-11.2
-27.2
-72.8
-49.0
-23.9
-16.7
-5.6
-11.0
Trading income and other operating income
23.3
20.0
-0.4
20.4
85.5
54.0
31.5
50.4
21.6
28.7
Operating income
-2.1
-8.1
-8.3
0.2
17.7
8.4
9.4
33.2
10.1
23.1
Personnel expense
199.9
438.8
197.4
241.4
367.7
184.8
183.0
371.8
187.1
184.8
General expense
102.7
195.0
96.1
98.9
166.1
79.4
86.7
175.7
87.5
88.1
Depreciation of property, equipment and intangible assets
44.7
88.5
45.6
42.9
86.8
44.8
41.9
86.6
42.8
43.9
Provisions and losses
3.4
2.6
0.3
2.3
4.7
4.2
0.5
0.8
-0.1
1.0
Operating expense
350.7
725.0
339.3
385.7
625.3
313.3
312.0
634.9
317.1
317.7
Profit before taxes
-352.8
-733.1
-347.5
-385.6
-607.6
-304.9
-302.7
-601.7
-307.1
-294.6
Client assets (CHF B)
Assets under management
4.0
4.3
4.3
3.7
2.6
2.6
1.9
2.5
2.5
1.7
Other advised client assets
0.8
-0.1
-0.1
-0.1
-0.1
-0.1
-0.3
-1.2
-1.2
-0.8
Structured products outstanding
6.9
8.1
8.1
8.6
8.2
8.2
9.8
10.7
10.7
10.3
Advised client assets
11.7
12.4
12.4
12.2
10.7
10.7
11.5
12.0
12.0
11.2
Net new money
0.0
0.6
0.0
0.6
0.3
0.3
0.0
0.1
0.0
0.1
Personnel (full-time equivalents)
Employees
1,327.4
1,285.2
1,285.2
1,260.8
1,220.1
1,220.1
1,197.9
1,199.0
1,199.0
1,205.8
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Vontobel Holding AG published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 04:57:02 UTC.
Die Vontobel Holding AG ist eine Schweizer Privatbank und Holdinggesellschaft der Vontobel-Gruppe. Sie gliedert sich in drei Hauptgeschäftsfelder: Private Banking, Investment Banking und Asset Management. Die Dienstleistungen im Private Banking umfassen die Vermögensverwaltung für Privatkunden sowie die aktive Anlageberatung und Depotverwaltung. Das Investment Banking konzentriert sich auf das Geschäft mit Derivaten und strukturierten Produkten, auf das Brokerage sowie auf ausgewählte Corporate-Finance-Aktivitäten. Das Asset Management ist auf die aktive Verwaltung von Vermögenswerten auf der Grundlage von Asset Allocation, Aktienauswahl und Multi-Manager-Ansätzen spezialisiert. Die Produkte werden über Wholesale-Kanäle und direkt an institutionelle Kunden vertrieben. Die Bank betreibt eine Reihe von Tochtergesellschaften in der Schweiz, Österreich, Deutschland, den Vereinigten Staaten, dem Vereinigten Königreich, den Vereinigten Arabischen Emiraten, Hongkong, Singapur und Grand Cayman, um nur einige zu nennen.