Julius Baer Reports Record High Assets and Increased Profit for 2024

Julius Baer Group Ltd. reported a notable increase in assets under management (AuM), reaching a record CHF 497 billion, marking a 16% rise. This surge was fueled by CHF 14 billion in net new money inflows, improving market conditions, and a weaker Swiss franc. Operating income grew by 19%, moderated by rising interest expenses, while net profit saw a substantial leap of 125%, aided by a tax release.

Despite increased expenses due to investments in hiring and technology, the executive board was streamlined. The cost reduction program has been extended, aiming for further savings. The company proposed maintaining a stable dividend of CHF 2.60 per share, reflecting its strong capital position. A strategy update is planned for mid-2025, indicating ongoing growth and adaptation in the financial landscape.