Clariden Leu has increased its net profit to CHF 353m in 2009, which represents a 67% increase compared to the previous year.

The bank attributes the increase to a stabilization of the markets in the second half of the year, which to an increase client trading activity and subsequent greater demand for structured products.

Net revenues- were CHF 1.1bn, and operating expenses decreased by 39% and amounted to CHF 691m. This decrease was due in part to the special effect mentioned above.

Assets under management increased by 9% in 2009 to CHF 102bn, and the net outflow of assets was CHF 0.5bn, which was mainly as a result of the Italian tax amnesty.

Hans Nützi, chief executive of Clariden Leu, said: "We are confident that our financial strength, our profitability and our highly qualified staff form the solid basis for a successful 2010, even as the environment remains challenging."