Kaiser Partner Privatbank achieves 24% profit increase in 2022
Liechtenstein-based Kaiser Partner Privatbank increased profits by nearly a quarter in fiscal year 2022, and net new money inflows also continued to climb. “A strong performance combined with our steadily improving cost structure,” said Christian Reich, CEO of Kaiser Partner Privatbank AG, explaining the positive annual results.
Profits at the family-owned private bank increased to 5.1 million Swiss francs in the past financial year, a 24 percent increase over the previous year. This corresponds to the highest profit ever achieved by the private bank, which was founded in 1977.
Strong organic growth
Gross income increased by 10 percent to 32.9 million francs, as did net new money inflows, which rose by 3.3 percent to 187 million francs. The fact that assets under management declined slightly by 5.5 percent year-on-year in this thoroughly positive set of financial statements is due to the market environment on the balance sheet date at the end of the year, which had a negative impact on assets. It should be noted that a solid net new money growth of CHF 187 million was generated. This means that the private bank can report positive net new money development for the seventh year in a row.
This key figure is all the more important for the private bank as it reflects the income generated in the commission and services business from client money development. These rose by around one million francs to 18.6 million francs last year. Strong growth was also recorded in the interest business, while income from financial transactions rose moderately.
The private bank’s best annual result to date is the result of “systematic qualitative growth,” explains Fritz Kaiser, Chairman of the Board of Directors, “a combination of our strategy in recent years of consistently aligning offers and networks with client needs. ”
Last year, Kaiser Partner Privatbank received an award from the prestigious Fuchsbriefe in the field of private banking. With an overall rating of “very good”, the private bank was one of only seven institutions to receive the top score. The jury of experts particularly praised the bank’s high level of investment expertise. It said of Kaiser Partner Privatbank’s investment style: “Completely sustainable approach, foresight and responsiveness, clearly structured investment approach and own opinion in uncertain times.”
CEO Christian Reich is optimistic for the current fiscal year 2023. For the first half of the year, above-average results are on the horizon.
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