Julius Baer first half profit more than doubles on strong inflows
Julius Baer’s first-half profit more than doubled on sustained money inflows, rebounding from prior-year losses tied to credit provisions and a Brazilian divestment.
The Swiss wealth manager reported IFRS net profit of SFr673m ($831.2m) for the six months to June 2026, up 128% from SFr295m in the first half of 2025.
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IFRS operating income stood at SFr2.27bn in the first half of 2026, an increase of 26% from SFr1.81bn in the year-ago period.
Net interest income climbed 80% year-on-year to SFr130m.
Net credit losses on financial assets were SFr23m, compared with SFr130m in the first half of 2025.
IFRS operating expenses increased 2% to SFr1.46bn from SFr1.44bn a year earlier.
The group said it is aiming for gross efficiency gains of SFr130m by 2028.
In the first half of 2026, costs to achieve linked to the programme were SFr7m, while net savings from the plan were SFr11m.
Assets under management (AuM) grew by 5% year-to-date, reaching SFr547bn.
The increase came from stronger markets, currency movements and continued net new money inflows.
With assets under custody of SFr102bn included, total client assets stood at SFr649bn.
Net new money totalled SFr5.7bn, equal to 2.2% on an annualised basis.
Inflows were recorded across all regions, with western Europe, including Switzerland, making a particularly strong contribution.
Client releveraging, which had paused during the first four months of 2026, resumed later in the period.
Julius Baer Group CEO Stefan Bollinger said: “Overall, we delivered a strong operating performance in the first half of 2026, reporting record net profit, driven by pronounced client activity, all-time high assets under management, sustained net new money inflows, and continued improvement in operating leverage. This underscores the strength of our business model and our team’s ability to support clients effectively through market complexity and volatility.
“Today’s results represent a solid start to our new three-year strategic cycle. We are making steady progress across each of our priorities through disciplined execution and consistent delivery, with a particular focus on reigniting organic growth. We are pleased to reaffirm our mid-term targets.”
Earlier this month, Julius Baer Group named Peter Burrill as chief financial officer (CFO) and executive board member, replacing Evie Kostakis.
Burrill will take on the new responsibility on 17 August 2026, pending final regulatory clearance.
