Julius Baer profit drops in 2025 amid write-downs, but beats expectations

[ZURICH] Swiss bank Julius Baer on Monday (Feb 2) reported a net profit of 764 million Swiss francs (S$1.3 billion) for 2025, which beat analyst expectations but was still down 25 per cent from 2024 in a year marked by write-downs.

The bank booked a net credit loss of 213 million francs in 2025, with its previously announced loan loss allowances partly offset by credit recoveries.

“All in all, 2025 was a successful transition year,” said chief executive officer Stefan Bollinger, after the write-downs he announced during his first year in the post.

The bank is still under an enforcement assessment by Swiss financial market authority FINMA, for the major losses incurred prior to him taking up the post. The assessment prohibits the bank from announcing new share buybacks.

Its assets under management grew 5 per cent to 521 billion francs, with the net new money of 14.4 billion francs matching a Zuercher Kantonalbank forecast.

These inflows and the rising global equity market valuations more than offset the impact of a stronger Swiss franc, the bank said.

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Separately, it announced changes to its board of directors, with the current vice-chairman Richard Campbell-Breeden set to step down in April. He will be succeeded by Juerg Hunziker. REUTERS