Vontobel Holding Thursday said full-year net profit rose following a pick-up in demand for structured products, but inflows at its private bank fell short of its expectations.

The Zurich-based bank said net profit for the year ended Dec. 31 was CHF138.9 million Swiss francs ($127.4 million), up from CHF112.8 million a year earlier and topping a Dow Jones Newswires poll of analysts, which averaged CHF135.2 million.