Raiffeisen Group, a cooperative banking institution, reported a 24 percent increase in profits to 1.07 billion Swiss francs ($1.17 billion) in 2021, firing on all cylinders with contributions from every business unit, the bank said in a statement Thursday (in German). 

New Money

The bank attracted 14.5 billion francs in new money, helping contribute to an almost 8 percent increase in assets under management to 241.2 billion francs, up by 17 billion francs from the previous year. This came as the bank added over 50,000 new customers and 28,000 new cooperative members in 2021.

Uncertainties 

The bank said the market environment remains challenging. An easing of the situation with the Corona pandemic is being offset by the war in Ukraine with further geopolitical tensions causing uncertainty. Nevertheless, Raiffeisen expects its business to be «solid» this year.