Rothschild & Co: Q1 revenue down 10%
(CercleFinance.com) - The banking group has announced a 10% drop in revenues for Q1 at E606.
2m (Q1 2022: E675.3m).
Financial Advisory quarterly revenues fell 21% to E326.8m
In Private Banking and Asset Management, assets under management increased by 6% (E5.6bn) to E99.7bn as at 31 March 2023 (31 December 2022: E94.2bn), driven by net inflows of E1.5bn and a positive market effect of E4bn.
Management expects its three business lines to continue to perform well in 2023, albeit below 2022 levels. The clear long-term strategies of each business provide confidence for the future, noting that 2023 will be a more challenging year given the macroeconomic and geopolitical environment.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
2m (Q1 2022: E675.3m).
Financial Advisory quarterly revenues fell 21% to E326.8m
In Private Banking and Asset Management, assets under management increased by 6% (E5.6bn) to E99.7bn as at 31 March 2023 (31 December 2022: E94.2bn), driven by net inflows of E1.5bn and a positive market effect of E4bn.
Management expects its three business lines to continue to perform well in 2023, albeit below 2022 levels. The clear long-term strategies of each business provide confidence for the future, noting that 2023 will be a more challenging year given the macroeconomic and geopolitical environment.
Copyright (c) 2023 CercleFinance.com. All rights reserved.