April 28, 2017 / 5:24 AM / 3 months ago

EFG International sees 3.5 bln Sfr asset outflow in Q1

1 Min Read

ZURICH, April 28 (Reuters) - EFG International AG saw net outflows of 3.5 billion Swiss francs ($3.52 billion) in the first quarter of 2017, mainly from the scandal-hit BSI business it purchased last year, the Swiss private bank said on Friday.

"Supported by the stabilizing effect of the legal integration in Switzerland, trends continued to improve in April and remained in line with the net asset attrition assumption of approximately 10 billion francs by 2019," Zurich-based EFG said in a statement.

"Revenue-generating Assets under Management as of end-March 2017 were 140.6 billion francs compared with 144.5 billion francs at end-2016," it added.

$1 = 0.9941 Swiss francs Reporting by Joshua Franklin; Editing by Sherry Jacob-Phillips

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below