Julius Baer Reports Strong First Four Months of 2024

Julius Baer Group Ltd. announced a substantial increase in assets under management (AuM) alongside a marked recovery in client activity for the first four months of 2024. This growth led to a significant improvement in profitability and reinforced the Group's solid capital position.

AuM rose by 10% to CHF 471 billion, driven by favorable currency impacts and strong stock markets, despite a decline in bond market valuations. Client net inflows reached CHF 1 billion by the end of April, following a recovery after a weak January, though overall results were impacted by ongoing client deleveraging.

The gross margin improved to 89 basis points from 82 basis points in the second half of 2023. This increase stemmed from higher income from financial instruments measured at fair value and net commission and fee income, offset slightly by lower net interest income.

The Group’s CET1 capital ratio increased to 15.3%, and the total capital ratio reached 24.9%, both well above regulatory requirements. The cost/income ratio lowered to just over 69%, with the pre-tax margin improving to 27 basis points.