Julius Baer Says 10-month Profitability, Assets Under Management Up; Backs Medium Term View

Julius Baer Group Ltd. (JBARF.PK,JBAXY.PK) Monday said its ten- month profitability rose significantly, benefited by strong growth in client assets and substantial improvements in cost efficiency.

Assets under management or AuM was 484 billion Swiss francs at the end of October 2021, a year-to-date increase of 12%. The increase was driven by continued net new money inflows as well as positive stock market performance and currency movements.

The gross margin was slightly above 82 basis points, lower than last year's 88 basis points, reflecting a softening in client activity from the exceptionally high levels witnessed last year.

While the gross margin contribution from net interest income was slightly lower compared to full year 2020, the contribution from recurring fee income improved, the company noted.

The company further noted that initial results for November indicate a potential recovery for the final two months of the year.

Based on the results, Julius Baer said it is in an excellent position to deliver on the medium-term financial targets set at the beginning of 2020.

The adjusted return on CET1 capital remained significantly ahead of the 2022 target of >30 percent and among the highest in the sector.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
This Black Friday and the following holiday season, retailers across the United States are urged to keep up their inventory amid expected surge in shopping as majority of Americans wait till last minute to fill their baskets, according to certain studies. A new Oracle Retail survey, which was conducted last week and presented earlier this week, showed that 66 percent of consumers were less than Eagle, Idaho -based Flagship Food Group is recalling certain TJ Farms Select brand frozen cauliflower, citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The recall involves a limited number of cases of TJ Farms Select cauliflower that comes in 16 oz. packages with lot code 2077890089 and UPC code 75544000604-3. The U.S. Food and Drug Administration has approved Takeda Pharmaceuticals Co. Ltd.'s Livtencity (maribavir) as the first drug to treat post-transplant cytomegalovirus or CMV in adults and pediatric patients. The approval is to treat patients 12 years of age and older and weighing at least 35 kilograms with post-transplant CMV infection/disease that does not respond...
Follow RTT