From GlobeNewswire:

CFM Indosuez Wealth Management’s board of directors, led by Eric Vial, finalized the company’s 2023 consolidated accounts in adherence to IFRS international accounting standards. The financial statements encompass all three entities within the group, showing increased figures in key areas like net banking income and operating expenses.

In 2023, CFM Indosuez Wealth Management saw a 23% rise in net banking income to €197.2 million compared to 2022. Despite fluctuations in interest margins and lending activities, the company’s strong commercial performance maintained high brokerage revenues. Operating expenses increased to €119.7 million due to ongoing digital investments and inflation.

The company reported a 39% increase in gross operating profit to €77.5 million for 2023. Additionally, a negative credit risk cost of €0.8 million and €15.9 million in corporate taxes contributed to a 40% surge in net profit to €60.8 million from the previous year.

With assets under management rising by 4.4% at the end of 2023 and a reduction of customer loans by 15%, CFM Indosuez Wealth Management displayed financial stability. The company’s social accounts revealed a 2023 profit of €64.7 million, an uptick from the previous year.

The board proposes distributing dividends at 71% of the 2023 profit, totaling €80.00 per share. It also suggests allocating €18.8 million to retained earnings. Shareholders will receive dividends starting May 28, 2024, pending approval at the May 14, 2024 general assembly. For further inquiries, contact Céline Lapaian for investor relations and Magali Jacquet-Lagrèze for press inquiries.



Read more at GlobeNewswire:: CFM INDOSUEZ WEALTH: Communiqué Financier Résultats