Julius Baer Group Reports 2024 Half-Year Results

Julius Baer Group Ltd. has announced its 2024 half-year financial results, highlighting strong client asset growth, continued investments in future growth, and a solid capital position. The firm's assets under management have risen by 11% to CHF 474 billion, driven by rising stock markets, a weaker Swiss franc, and net new money of CHF 3.7 billion.

Operating income has decreased by 4% year on year due to higher interest expenses, while the gross margin stood at 85 basis points. The firm reported a net profit of CHF 452 million, a 15% decline from the previous year, with earnings per share at CHF 2.20.

The capital position of Julius Baer remains robust, with an increased CET1 capital ratio of 16.3% and a total capital ratio of 26.3%. The group's balance sheet liquidity has also improved, with a liquidity coverage ratio of 325%.

CEO Nic Dreckmann noted that after a challenging start to the year, the firm is regaining momentum and continues to invest in future growth while enhancing efficiency.