Geneva-based Pictet Group reported consolidated net profit of 371 million Swiss francs for the first half of 2026, up 12 percent from the same period a year earlier.

Operating income increased 4 percent to 1.637 billion francs, while total expenses before tax rose by just 1 percent to 1.165 billion francs. 

Profit growth therefore significantly outpaced the increase in both revenue and expenses.

Client Assets Rise 7 Percent

Assets under management or custody stood at 810 billion francs as of June 30, an increase of 7 percent from the end of 2025. 

In US dollar terms, Pictet’s assets under management and custody reached $1.004 trillion. The corresponding figures were 878 billion euros and 756 billion pounds. 

Pictet did not disclose a net new money figure for the first half in its announcement.

Client Assets at All-Time High

«In an environment marked by geopolitical uncertainty, the assets entrusted to Pictet by our clients reached an all-time high,» Marc Pictet, managing partner of Pictet Group, said.

He added that the solid operating result underscored the attractiveness of the group’s business model and demonstrated its ability to guide clients through volatile and challenging market conditions. 

Capital Ratio at 21.9 Percent

Pictet also maintained a solid capital position. Group equity stood at 3.17 billion francs as of June 30.

The group’s total capital ratio was 21.9 percent, well above the 12 percent requirement set by the Swiss Financial Market Supervisory Authority Finma. 

Pictet operates exclusively in wealth management, asset management, alternative investment solutions and asset services. The group does not engage in investment banking or commercial lending. 

Founded in Geneva in 1805, the partner-owned group employs around 5,600 people and operates from 31 locations worldwide.