Swiss private bank Pictet, which operates in a number of regions, has released its unaudited figures for the 2024 financial year, ahead of its annual report set to be published at the end of April.

Consolidated profit at Geneva-headquartered Pictet rose by 15 per cent to SFr665 million ($728 million) for the year ending 31 December 2024, while the group’s operating income remained in line with the previous year at SFr3.16 billion.

Assets under management or custody stood at SFr724 billion in 2024, up 14 per cent from the year before, the bank said in a statement. While net new money for 2024 totalled SFr11 billion, a decline of about 31 per cent from the previous year.

The group’s equity, regulatory liquidity and capital ratios also remained robust, the bank continued. Total equity amounted to SFr3.78 billion in 2024. The liquidity coverage ratio was 212 per cent, exceeding the 100 per cent requirement under Basel III. The total capital ratio stood at 24.5 per cent, above the 12 per cent requirement set by Pictet’s Swiss regulator FINMA.

“We achieved solid results in 2024. Investment performance was excellent and positive market effects helped us reach an all-time high in assets under management,” Marc Pictet, senior managing partner, said. “Clients continue to value our distinct investment capabilities and the stability we provide in an ever-changing industry and volatile geopolitical landscape.” 

The private bank did not disclose further details.

Pictet, which has a global presence, offers wealth management, asset management, alternative investments, and related asset services. It has offices worldwide in Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Shanghai, Singapore, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.