Julius Baer: market hails interim statement

(CercleFinance.com) - Julius Baer is up around 3% in Zurich on Tuesday, after the private bank's interim management statement, which announced a 35-bp improvement in its pre-tax margin in the first four months of 2020, against a 22-bp increase over FY 2019.


Assets under management fell 8% year-on-year to 392 billion Swiss francs at the end of April, as the inflow of fresh money was more than offset by negative market performance and the appreciation of the Swiss franc.

Philipp Rickenbacher, CEO of Julius Baer, said, "It is clearly too early to assess with any certainty the impact of the COVID-19 crisis on the global economy, the financial markets, and the results of Julius Baer for the remainder of 2020".


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