Eric Vial President Mathieu Ferragut Chief Executive Officer CFM Indosuez's centenary year was marked by a solid financial performance in 2022 against a backdrop of geopolitical and economic instability. International tensions have intensified further in 2023, with the explosion of conflict in the Middle East and Russia's continuing war on Ukrainian territory leading to high volatility on the financial markets. Supporting our clients' performance has required all our experts to be fully engaged. Thanks to the relevance of their analyses and their responsiveness, our company's consolidated revenues in 2023 will be €197.2 million, up 23% on the 2022 target. We also recorded remarkable growth of 40% in net profit, Group share, to €60.8 million. Against a backdrop of sharply rising interest rates, we have certainly benefited from substantial interest margin income, but our growth is primarily due to the strong commitment of our staff to our clients. The results of surveys carried out by independent bodies, such as the Customer Recommendation Index (CRI) and the employee Accountability Index (IMR - Indice de Mise en Responsabilité), reflect the high levels of client satisfaction and pride in our teams, demonstrating the effectiveness of our management transformation initiatives. The developments included in the three cornerstones of our Ambitions 2025 corporate project have been completed on budget and on time, whether they concern the Client Project, the People Project or the Social Project. This consistency between planning and execution demonstrates our ability to achieve our strategic ambitions efficiently. We would like to highlight the invaluable support of our directors and the Monegasque authorities, whom we thank warmly for their trust and their ongoing involvement in our development. The history of our Bank is intrinsically linked to the development of the Principality, reflecting more than a century of mutual commitment. Our partnership with the Compagnie des Ballets de Monte-Carlo, which began in 1999 and was renewed this year for a further three years, is a fine example of this. Similarly, our partnership with the Oceanographic Institute is driven by a shared desire to protect the oceans. This continuity illustrates our commitment to contributing to the Principality's cultural influence and long-term commitment. In recognition of our performance, CFM Indosuez was named best bank in the Principality in 2024 for the 8th year running by one of the leading international financial magazines, Global Finance. We're very pleased and proud for our teams. We are firmly committed to excellence in our two core businesses: Wealth Management and Corporate Finance. The planned acquisition of Belgian bank Degroof Petercam by the Indosuez Wealth Management group, scheduled for completion in 2024, supports this ambition. This alliance will open up new prospects, enabling our clients to benefit from an enriched value proposition, the fruit of the combined expertise of two renowned institutions in the fields of private banking and asset management. On the strength of our reflections and our successes, we face the challenges ahead with determination and optimism, convinced that our commitment and our strategic vision will enable us to assess the future with accuracy and serenity. Message from General Management CFM Indosuez Wealth Management Annual Report 2023 27
RkJQdWJsaXNoZXIy NzMxNTcx