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ZURICH (Reuters) -Julius Baer reported on Monday a 26% drop in shareholders' profit for the first half of 2022, as the Swiss wealth manager was hit by. ....
Julius Baer boosts H1 net profit by 23% FILE PHOTO: The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 1, 2021. REUTERS/Arnd Wiegmann July 21, 2021 ZURICH (Reuters) -Julius Baer on Wednesday posted a 23.4% rise in half-year net profit to 606.0 million Swiss francs ($657.9 million), as strong markets and continued client inflows helped the Zurich-based wealth manager grow business. “Following a record-high net profit in the first half of the year, we are entering the second half from a position of strength,” Chief Executive Philipp Rickenbacher said in a statement. Wealth and asset managers have continued to benefit from soaring stock markets and continued client activity. ....
3 Min Read ZURICH (Reuters) - Julius Baer posted a 50% rise in 2020 net profit on Monday and said it planned a share buyback, as booming markets and strong client trading helped the Swiss wealth manager overshoot its mid-term targets. Slideshow ( 4 images ) But shares fell 2.7% by 0951 GMT, as analysts said low and negative interest rates were likely to weigh on the group and strong client trading was unlikely to maintain its bumper pace. Net profit attributable to shareholders rose to 698 million Swiss francs ($783 million) for 2020, as financial instrument gains and a surge in client transactions offset weak interest income. “We delivered on the first leg of the three-year transformation strategy presented in February 2020,” Chief Executive Philipp Rickenbacher said, adding that “structural difficulties” in the overall environment posed challenges ahead. ....