Swiss bank Vontobel posts net profit decline, affirms 2020 targets

BERLIN: Swiss private bank and asset manager Vontobel posted a 1% net profit decline in the first half of the year as assets under management rose to 186 billion Swiss francs ($188.85 billion).

"Vontobel generated a respectable result for the first half of 2019 despite the continued challenging operating environment," the bank said in a statement.

"We are committed to our ambitious 2020 targets, although we expect the environment to remain challenging in the second half of the year," the Zurich-based company added.