ZURICH, July 30 Swiss bank Vontobel Holding
said on Wednesday first half net profit fell 3 percent
from a year earlier, slightly exceeding expectations.
Net profit at the bank for the first six months of the year
was 73.5 million Swiss francs ($81.06 million). This topped
expectations in an analyst poll conducted by Reuters, which
averaged 70.8 million francs.
Net new money at the Zurich-based firm for the first half of
the year was zero, as modest gains at its private bank were
cancelled out by outflows at Vontobel's asset management arm.
As part of its medium-term targets to 2017, the bank said it
was targeting a payout ratio to shareholders of over 50 percent
of profits if its business performs as planned.
($1 = 0.9067 Swiss Francs)
(Reporting by Joshua Franklin)