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The Vontobel Group more than doubles its net profit in 2005
15.03.2006 -
The Vontobel Group today reported a net profit of CHF 183.2 mn for the 2005 financial year. It thus succeeded in more than doubling its result compared to 2004 (+126%) due to increased profit contributions from all business units. The result for the previous year was adjusted for the impact of changes in IFRS accounting principles, in accordance with regulations. Operating income rose by 37% to CHF 624.4 mn, while operating expense grew at a lower rate (+19%) to CHF 385.9 mn. The cost/income ratio including depreciation therefore decreased substantially to 65.2% and was thus at the lower end of the mid-term target range. Investment Banking also doubled its pre-tax profit (+98%) due, in particular, to its successful derivatives business. Pre-tax profits in Private Banking and Asset Management & Investment Funds rose by 44% and 54%, respectively. At the end of 2005, the Vontobel Group held assets totalling CHF 88.9 bn. Client assets increased by 18.5% to CHF 57.6 bn in the year under review. In addition, custody assets of CHF 31.3 bn were reported. The Group recorded CHF 1.4 bn of net new money in 2005, including inflows of CHF 1.2 bn in Asset Management & Investment Funds and CHF 0.4 bn in Private Banking. In view of the marked improvement in the Group's result, the Board of Directors will propose a 33% increase in the dividend to CHF 1.60 to the General Meeting of Shareholders of Vontobel Holding AG.
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Deutsche Bank reports adjustments to its 2005 preliminary results
09.03.2006 -
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First ever biofuels index launched by UBS and Diapason
07.03.2006 -
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New privatebanks.com available soon
20.02.2006 -
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Credit Suisse launches its new brand worldwide
16.01.2006 -
Credit Suisse today launched its new brand and logo worldwide. The global brand launch and Credit Suisse logo reflect the new strategic direction at Credit Suisse, which began operating as an integrated global bank on January 1, 2006. To celebrate the new brand, Credit Suisse buildings in Hong Kong, London, New York, Singapore and Zurich will be illuminated for one week starting today.
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