Julius Baer's Remarkable Financial Leap in 2024

Julius Baer Group Ltd. has made headlines with its announcement of a staggering 125% increase in net profit for the fiscal year 2024, reaching an impressive 1.022 billion Swiss francs. This significant growth, calculated under the International Financial Reporting Standards (IFRS), marks a new milestone for the banking corporation.

Financial Highlights and Strategic Achievements

The corporation's IFRS earnings per share (EPS) also experienced a remarkable rise, soaring by 125% to 4.98 Swiss francs compared to the previous year. Operating income wasn't left behind, showcasing a 19% growth to 3.861 billion Swiss francs. Furthermore, the adjusted net profit saw an approximate 121% year-on-year increase, culminating in 1.047 billion Swiss francs.

Julius Baer's strategic efforts in enhancing its risk framework and controls have paid off, as highlighted by Chief Operating Officer Nic Dreckmann. "We have closed the year with the highest level of assets under management ever, fueled by accelerated net new money inflows in the second half of the year," Dreckmann remarked.

Stable Dividends and Improved Cost Efficiency

Despite these financial advancements, Julius Baer maintained its dividend at a stable 2.60 Swiss francs per share. The adjusted cost/income ratio showed significant improvement, decreasing from 81.6% to 70.9%, indicating enhanced cost efficiency within the corporation.