Lombard Odier's AuM Holds Steady, Income Rose In 2023

Editorial Staff

31 March 2024

said last week that its assets under management held steady at SFr193 billion ($219 billion) at the end of December 2023 versus SFr192 billion at end-2022.

The Geneva-headquartered bank said positive net new money inflows and favourable market impact were offset by negative currency effects, due to the strengthening of the Swiss franc.

Operating income was SFr1.402 billion at the end of last year, rising from SFr1.38 billion a year before. Consolidated net profit was SFr221 million, slipping from SFr243 million in 2022.

Lombard Odier said its Common Equity Tier 1 ratio – a standard international measure of a bank’s capital “buffer” – was 32 per cent, among the highest in the world. Fitch, the credit ratings agency, reaffirmed the group’s credit rating at AA- with a stable outlook in July 2023.

The bank, along with its Geneva peers , moved to a limited liability partnership structure a decade ago, requiring it to disclose certain financial results.