Vontobel scraps revenue target

July 31, 2014 - 12:00:00 am

A car of Swiss bank Vontobel is parked in front of a branch office in Zurich yestersday. Vontobel Holding scrapped its revenue target after saying it had failed to win any fresh funds from clients in the first half, blaming investors’ concerns over emerging markets earlier in the year. The bank said it would now focus on profitability, effectively ditching a revenue target of more than 1bn Swiss francs ($1.10bn) this year.

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