March 27, 2018 / 9:10 AM / 6 months ago

Swiss private bank Mirabaud reports 28 percent rise in profit

ZURICH, March 27 (Reuters) - Swiss private bank Mirabaud reported a 28 percent increase in net profit during 2017, it said on Tuesday, helped by new business and a market upswing.

The Geneva bank, which was founded in 1819, said net income rose to 40.5 million Swiss francs ($42.80 million), while revenue increased to 305.3 million francs, from 289 million francs a year earlier.

Assets under management grew to 33.3 billion francs, up from 31.2 billion francs.

“During 2017, our private banking activities made excellent progress both in Switzerland and in Europe, including the UK, in Dubai and in Canada,” Senior Managing Partner Yves Mirabaud said in a statement. ($1 = 0.9462 Swiss francs) (Reporting by)

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