Julius Baer: stock down after FY results

(CercleFinance.com) - Julius Baer shares are down over 5% in Zurich after the wealth management bank reported 2021 adjusted net profit (excluding items related to M&A) that is up 20% at 1.
14 billion Swiss francs, or 5.34 Swiss francs per share.

The group announced assets under management of 482 billion Swiss francs, up 11%, with net new money up 30% to 20 billion Swiss francs, as well as an improved adjusted cost/income ratio of 63.8%, thanks to its structural cost reduction program.

Julius Baer added that its board of directors had decided on a 49% increase in its ordinary dividend to 2.60 Swiss francs per share proposed for 2021, as well as a new share buyback program of up to 400 million Swiss francs.


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