Quintet Private Bank posted a €43.7 million loss last year, as expansion and a rebranding effort meant higher expenses.
The 2019 loss was compared with a small profit of just under €1 million in 2018.
Total revenue remained stable at €443 million, but expenses sat at €470.5 million in 2019, up 8 percent compared with 2018.
The increase was driven by general expenses, loan impairments, a slight rise in staffing costs, and expenses relating to the acquisitions of Bank Am Bellevue and NW Brown. The latter became part of UK private bank Brown Shipley...
