(Bloomberg) EFG International, a Swiss bank for the wealthy, said first-half profit almost tripled as the company sold shares to the public and expanded through acquisitions.

Net income increased to 88.4 million Swiss francs ($71.5 million), or 60 centimes a share, from 30.4 million francs, or 28 centimes, a year earlier, the Zurich-based private bank said. Revenue more than doubled to 288.6 million francs.

EFG, whose biggest shareholder is Greece?s billionaire Latsis family, has added 10.1 billion francs in client assets from five acquisitions since the October IPO. Swiss rivals including Vontobel Holding AG and Bank Sarasin announced higher profit on rising fees from their private banking units. EFG said assets under management doubled to 53.8 billion francs.

?Management has consistently delivered, investing in strategically interesting wealth-management areas and raising net new money in an innovative way,? said Regina Anhorn, an analyst at Lombard Odier Darier Hentsch.

EFG shares rose two percent to 37.50 francs in Zurich. They?ve now gained 7.1 percent this year while Sarasin has surged 30 percent and Julius Baer Holding AG, Switzerland?s largest independent money manager, has advanced 26 percent.

Chief Executive Officer Lawrence Howell?s acquisitions over the past ten months include the UK brokerage Harris Allday, Monaco-based Banque Monegasque de Gestion and fund of hedge fund manager Capital Management Advisors of Bermuda.

EFG was built by the late John Latsis, a self-made Greek shipping tycoon who branched into finance in 1979 when he bought a Swiss bank from the Onassis family.

The family owns stakes in Greece?s second-largest bank, EFG Eurobank Ergasias SA, and in Hellenic Petroleum SA, Greece?s biggest oil refiner.

EFG, founded in 1995, raised 1.4 billion francs for expansion after selling shares last October on the Swiss exchange. EFG and Athens-based Eurobank are both owned by the same parent, EFG Group. EFG Group owns 48.7 percent of EFG and 41.3 percent of Eurobank.

Operating expenses more than doubled to 173.9 million francs from a year earlier, EFG said, as personnel costs rose 105 percent and the number of client advisers grew by 58 percent to 356.