LGT achieved a group profit of 283.4 million Swiss francs for the 2017 financial year, which corresponds to an increase of 23 per cent over the previous year. Net asset inflows, excluding acquired assets, came in at a record 17.7 billion francs, which represents an organic growth rate of 12 per cent, according to an LGT statement.
Assets under management rose by 33 per cent to reach 201.8 billion francs. This includes 18.3 billion francs in assets under management through the acquisition of ABN AMRO’s private banking business in Asia and the Middle East, as well as the business of European Capital Fund Management, a private debt manager with offices in London and Paris.
Of total assets under management, over one-quarter was attributable to the asset management business as at the end of 2017, thus underscoring the bank’s position as one of the leading providers in private banking as well as in alternative investments.
“These results reflect that LGT is strengthening its position as a leading private banking and asset manager provider,” said H.S.H. Prince Max von und zu Liechtenstein, the CEO of LGT, adding that it also shows that the bank has “taken advantage of market opportunities and further improved the quality of our business”.