February 13, 2018 / 6:22 AM / 2 months ago

Vontobel raises underlying net profit in 2017

ZURICH, Feb 13 (Reuters) - Swiss private bank and asset manager Vontobel on Tuesday posted a 12 percent rise in adjusted full-year net profit, as the bank took in 5.9 billion Swiss francs in fresh client money.

Factoring out adjustments, Zurich-based Vontobel said net shareholders’ profit for 2017 fell to 202.4 million Swiss francs ($215.96 million) from 259.8 million francs in 2016, but ahead of an average estimate for 198 million francs in a Reuters poll of five analysts.

Last year the bank’s profits were boosted by the sale of its stake in Helvetia Holding AG.

Vontobel said it will propose increasing its dividend to 2.10 francs per share. For 2016 the bank paid an ordinary dividend of 1.90 francs and a special dividend of 0.10 francs per share.‍​ ($1 = 0.9372 Swiss francs) (Reporting by Brenna Hughes Neghaiwi)

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