Julius Baer Gruppe Reports Higher Earnings Supported by Interest Rates


Shares of Julius Baer Gruppe surged on Monday following the release of their financial report, which showed increased earnings thanks to interest rates and a boost in net new money in the latter part of the first half.

Strong Financial Performance

At 0754 GMT, shares of Julius Baer Gruppe were trading 8.3% higher at CHF60.98. The Swiss banking group reported a net profit of 531.8 million Swiss francs ($615.1 million) for the period, compared to CHF450.6 million in the same period last year. Operating income also grew by 8.8% to reach CHF2.03 billion.

Impressive Asset Growth

Julius Baer Gruppe’s assets under management reached CHF440.7 billion at the end of June, up from CHF427.9 billion in the previous year, benefiting from an influx of CHF7.1 billion in net new money.

Analysts’ Expectations Surpassed

Anke Reingen, an analyst from RBC Capital Markets, noted that analysts had predicted assets under management to be at CHF436 billion and net new money at CHF6.5 billion. The actual results exceeded these expectations, providing relief after the disappointing interim statement earlier this year. Additionally, the bank’s adjusted cost to income ratio of 65.3% outperformed the projected ratio of 66.3%.

Positive Assessment from Jefferies

In a research note, analysts from Jefferies highlighted that Julius Baer Gruppe’s operating income surpassed consensus estimates by 3%.

Overall, Julius Baer Gruppe’s financial report demonstrates a strong performance driven by favorable interest rates and increased net new money.

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