Julius Baer has reported a 25% decline in net profit for 2025 to SFr764m ($981.3m), as one-off items and credit losses offset stronger underlying performance.
The Swiss wealth manager booked net credit losses of SFr 213m, following large writedowns in the previous year related to the collapse of the Signa property group.
Results were further affected by a net impact of SFr 99m from the sale of its Brazilian business and higher income taxes.
However, underlying profit before tax increased 17% to SFr 1.27bn.
Assets under management rose 5% to SFr521bn, supported by SFr 14.4bn in net new money.
The bank said inflows were mainly driven by clients in Asian markets including Hong Kong, India, Singapore and Thailand, alongside Western Europe and the UAE.
Owing to ongoing FINMA investigations into the bank’s Signa exposure, Julius Baer remains barred from conducting share buybacks.
The board has proposed keeping the ordinary dividend unchanged at SFr 2.60 per share for 2025, subject to shareholder approval.
The group is currently pursuing cost cuts and a strategic revamp under chief executive Stefan Bollinger.
In June, the bank confirmed a new cost-saving target of SFr130m to be achieved by 2028.
Bollinger described 2025 as a “successful transition year”.
He said: “We are now fully focused on delivering profitable growth and the execution of our strategic transformation. I am very pleased with the positive momentum created throughout the organisation and the tangible progress made on multiple fronts; from simplifying our operating model and sharpening client focus to strengthening governance and renewing our leadership team.”
Julius Baer also announced changes to its board.
In a statement on 2 February, it said Richard Campbell-Breeden will not seek re-election at the next AGM and will step down as vice chairman.
Subject to his re-election as a director, Juerg Hunziker will assume the role of vice chairman.
The bank added that Urban Angehrn has agreed to join the board as an independent non-executive director from the 2026 AGM, pending shareholder approval.
“Julius Baer profit slumps in 2025 over credit losses” was originally created and published by Private Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
