The Pictet Group recorded an all-time high in assets under management, primarily thanks to the positive trend on the financial markets. However, the bank also received new money in 2024.
The Pictet Group published key figures for the 2024 financial year on Tuesday. Group profit rose by 15 per cent to CHF 665 million. At CHF 3.16 billion, operating income was on a par with the previous year.
Assets under management or custody rose by 14 per cent to CHF 724 billion, while net new money inflows totalled CHF 11 billion (2023: 16 billion).
Marc Pictet, Senior Partner of the Pictet Group, is satisfied with the results: ‘We achieved a solid result in 2024. The investment performance was excellent and, thanks to positive market effects, we were able to achieve an all-time high in assets under management.’
Robust capitalisation and high liquidity
The press release also states that the Group continues to have a robust capitalisation and solid total capital and liquidity ratios. As at 31 December 2024, equity amounted to CHF 3.78 billion. At 212 per cent, the liquidity ratio is significantly higher than the 100 per cent prescribed by Basel III. The total capital ratio of 24.5 per cent is also significantly higher than the 12 per cent stipulated by the Swiss Financial Market Supervisory Authority Finma.
The Pictet Group's Annual Report 2024 will be published at the end of April. The bank, which is managed by partners and headquartered in Geneva, employs 5,500 people at 30 locations worldwide.
