November 6, 2019 / 6:13 AM / 14 days ago

Swiss bank Vontobel says advised client assets rise to record

ZURICH, Nov 6 (Reuters) - Swiss private bank and asset manager Vontobel on Wednesday said advised client assets rose to a record of 217.1 billion Swiss francs ($218.70 billion) at the end of the third quarter. “In total, the net inflow of new money generated by Vontobel for the last nine months was over its 4-6% target range,” it said in a statement, adding that overall results for first nine months of 2019 exceeded those of the prior-year period.

It confirmed its profit and growth targets for 2020.

The bank in July posted a 1% net profit decline for the first half of the year and confirmed its mid-term targets despite saying it expected the environment to remain challenging in the second half of 2019.

$1 = 0.9927 Swiss francs Reporting by Michael Shields and Brenna Hughes Neghaiwi, editing by Riham Alkousaa

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