The private bank saw less profit in the first half of 2022, as its funds under management dwindled.
Geneva-based Mirabaud posted a net profit of 19 million Swiss francs in the first half of the year, down 9.5 percent from the same period in 2021, it said in its half-year report Monday.
The 200 year-old bank said its assets under management took a 5.7 billion franc hit, falling to 33.2 billion from 38.9 billion at the end of last year due to market corrections and volatility.
«In this turbulent macroeconomic and geopolitical climate, all of Mirabaud’s teams are demonstrating an increased impetus to be agile, to listen and to innovate so as to serve the best interests of our clients,» Senior Managing Partner Yves Mirabaud, said in the statement.
