Another Swiss investment house has suffered a fall in assets under management following the Swiss National Bank's removal of the Euro/Swiss franc currency floor.

Geneva-headquartered private banking group Pictet posted an 11 per cent year-on-year rise in consolidated profit to SFr 226 million ($235 million) in its first-half results despite a SFr 15 billion dip in assets under management at the hands of the Swiss franc surge.

The results come shortly after Switzerland's Lombard Odier and Liechtenstein's LGT revealed their first-half results were also adversely affected by the de-pegging of the Swiss franc in January.

Pictet's assets under management or custody totalled SFr 420 billion at the end of June 2015, down from SFr 435 billion at the end of the year.

“Despite the appreciation of the Swiss franc in the first half of 2015, all business categories contributed to the growth of revenues and profits during this period compared to the first half of 2014,” said the group's senior managing partner Jacques de Saussure.

Still, the group's operating income of SFr of 1.05 billion over the half-year was seven per cent above that of the corresponding period of last year. Its core tier one capital ratio stood 25.1 per cent at the end of June.