Avaloq has reported an increase in group revenues to CHF 288 million for the six months to 30 June 2019.

This is a five percent increase year-on-year.

Adjusted EBITDA hit CHF 38 million, also a five percent increase.

These positive results follow a busy period for Avaloq, in which it successfully completed the digital transformation of 253 Raiffeisen banks across almost 900 sites, which went live on one Avaloq platform. This was one of Switzerland’s largest banking IT project, Avaloq stated.

Meanwhile, UK wealth managers Smith & Williamson...