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Lombard Odier says 2015 consolidated net profit up 20 pct
March 9, 2016 / 8:48 AM / 2 years ago

Lombard Odier says 2015 consolidated net profit up 20 pct

ZURICH, March 9 (Reuters) - Swiss private bank Lombard Odier said on Wednesday consolidated net profit for 2015 rose 20 percent year on year to 144 million Swiss francs ($144 million).

“Client assets rose from 215 billion francs to 224 billion francs despite a turbulent and volatile 2015 which began with the lifting of the Swiss franc’s peg to the euro,” Lombard Odier said in a statement.

“The initial negative currency impact on client assets was offset by positive contributions from net new money and market performance during the year.”

The Geneva bank broke with more than two centuries of tradition in 2014 because a switch to a limited partnership structure required some public reporting.

$1 = 0.9992 Swiss francs Reporting by Joshua Franklin; Editing by Mark Potter

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