February 12, 2019 / 6:16 AM / 8 days ago

Vontobel boosts 2018 net profit, expects challenging market

ZURICH, Feb 12 (Reuters) - Swiss private bank and asset manager Vontobel on Tuesday posted a 14 percent rise in adjusted full-year net profit, as the bank took in 5 billion Swiss francs ($4.98 billion) in fresh client money.

It said it expects a challenging environment in 2019, but remained on track as it works towards 2020 targets, which it raised in July.

Factoring out adjustments, Zurich-based Vontobel said 2018 net profit under IFRS reporting standards rose 11 percent to 232.2 million Swiss francs. It proposed an unchanged dividend of 2.10 francs per share. ($1 = 1.0044 Swiss francs) (Reporting by Brenna Hughes Neghaiwi)

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