Keystone-SDA
The fortune manager Julius Bär saw, as anticipated, his net profit assigned by an important value fix and the sale of his activities in Brazil. With a new money influx in solid rise, management has confirmed its financial prospects.
(Keystone-ATS) Between January and June 2025, the result adjusted before taxes fell 12% to 484 million, the Zurich establishment announced on Tuesday in a press release.
Net profit according to IFRS accounting standard has reached 295 million, falling 35% over a year, due to a new value of 130 million francs which has come to splash the company. The bank explained it in May by defects on private credits and positions on mortgage loans. The sale of activity in Brazil has also weighed 99 million on net profit.
The relationship between costs and income – excluding exceptional costs – has improved by 3 percentage points to 68.2%.
Recruitment of advisers
At the end of June, Julius Bär managed assets up to 483 billion, down 3% over a year, while new silver influx reached 7.9 billion, after 3.7 billion francs in the first half of 2024.
The bank confirmed its objectives. It targets new silver influx on a “gradual” increase from 4% to 5% for the period from 2026 to 2028, after an average growth of 2.7% between 2022 and 2024. To do this, the establishment wants to pursue the recruitment of customer advisers with a target of 150 new hires per year.
The relationship between costs and income, a key profitability indicator in the sector, must pass within 67%, a degradation compared to the less than 64% referred to in the previous period 2023-2025, but an improvement compared to the 70.9% recorded in 2024. The adjusted yield of hard funds (Rocecet1) must be greater than 30%.