Julius Baer declared on February 26 that it would provide cryptocurrency services to all esteemed customers across the globe. Switzerland’s third-largest bank partnered with SEBA Crypto AG, a Zug-based startup, […]
Assets under management at Julius Baer grew by 6 percent to 355 billion Swiss francs ($375.18 billion) in the first six months of 2017, the Swiss private bank said on Monday, roughly in line with analysts’ estimates. The private bank said it took in over 10 billion Swiss francs in net new funds from clients, one of the key business of the future.
The average forecast in a Reuters poll of five analysts was for the assets managed by Zurich-based Baer to grow to 358 billion francs. Adjsuted net income unexpectedly rose by 2 percent year on year to 404 million francs, ahead of the poll forecast for 373 million francs.
The Swiss private bank Julius Baer Group said Friday that an unnamed bankrupt European company has sued for €306 million ($326 million) after years of making demands on the bank for not doing enough to prevent two of its account holders from embezzling the company’s assets
Baer is contesting the claim and taking what it called "further appropriate measures" to defend its interests, it said in a statement.
Swiss private banking group Julius Baer reported Monday that its fiscal 2016 net profit attributable to shareholders, on IFRS basis, increased by 411 percent to 619 million Swiss francs. Earnings rose by 414% to 2.85 franc per share.
The prior-year period’s results included provision of $547.25 million or 521 million francs for a settlement with the U.S. Department of Justice or DOJ regarding the legacy U.S. cross-border business.
Swiss private bank Julius Baer said on Thursday its assets under management rose 9% in the first ten months of 2016 to 327 billion Swiss francs ($326.45 billion), up from 311 billion francs in the first half of the year.
Switzerland’s third-largest listed bank said net new money in the year to date on an annualised basis was close to 4%, the bottom end of its medium-term target range of 4-6%.
Domenico Petrella, a former executive at Bank Julius Bär, was sentenced to 4 years and 6 months imprisonment and compensation of private accusers over the misappropriation of about €15 million, by the Court of Criminal Lugano, presided over by Judge Mauro Ermani, as reported by the Giornale del Ticino. The banker had cheated forty Italian customers by attracting approximately €15 million to play them at the Casino of Campione.
