Julius Baer Gruppe announced that the assets under management for the 10 months of 2021, increased compared to the previous year, and that its performance was marked by the reduction of costs and the strong increase of customers’ assets.
The Swiss private banking group said assets under management rose to 484 billion francs ($ 521.3 billion), up 12% year-on-year.
Net inflows increased by 4.4%.
The bank’s gross margin decreased to 82 basis points from 88 basis points in 2020, due to the decrease in customer activity compared to the particularly high levels of last year.
“While the gross margin contribution from net interest income was slightly lower than for the entire fiscal year 2020, the contribution from recurring commission income improved,” said Julius Baer, noting that she was in the right position to succeed. its medium-term objectives.
The company stressed that the Tier 1 capital adequacy ratio continues to be higher than the targets and that the return on capital continues to be among the highest in the industry.
Source From: Capital