Lombard Odier managed to push up first-half profits despite facing headwinds from the de-pegging of the Swiss franc in January.

Swiss private bank Lombard Odier posted a 12 per cent year-on-year rise in consolidated net profit to SFr70 million ($73 million) for the first half of 2015 despite a stronger Swiss franc, which chipped away at its assets under management.

The bank's total client assets as of the end of June stood at SFr209 billion, of which assets under management were SFr155 billion, down from SFr161 billion at the end of 2014. Lombard Odier is the latest investment manager in the region to reveal its first-half results have been hit by the surge in the Swiss franc’s exchange rate following the abandonment of the SFr1.20 per euro floor. Liechtenstein's LGT, for example, recently reported a 2 per cent drop in assets under management in its half-year results, while Zurich-listed GAM posted a 13 per cent year-on-year fall in its underlying net profit.

“We achieved a strong financial performance in the first half of 2015 despite a difficult market environment, with net profit up 12 per cent compared with the first half of 2014,” said the bank's senior managing partner, Patrick Odier. 

“Our solid financial position allows us to maintain investments in our growth initiatives. We continue to focus on the expansion of our private clients business in Europe, Switzerland and the emerging economies, and continue to sharpen our asset management capabilities. Our technology and banking services business will further develop its platform for the benefit of our own and third party clients.”

The bank has a fully-loaded Basel III common equity tier one ratio of 22.7 per cent.