Half Year 2025 Julius Baer Gruppe AG Earnings Call Transcript
Key Points
- Net new money momentum improved significantly, with net inflows more than doubling compared to the same period last year.
- Underlying net profit increased by 11% year on year to over CHF0.5 billion.
- The CET1 capital ratio improved by 140 basis points to 15.6%, indicating a strong capital position.
- Cost-saving efforts are starting to pay off, with the underlying cost-income ratio improving by 3 percentage points to 68.2%.
- The company has launched a Condolenculture program to reinforce accountability and develop a strong risk culture among employees.
- Assets under management decreased by 3% year-to-date to CHF483 billion, impacted by the weaker dollar and the sale of Julius Baer Brazil.
- Operating income was down 2% year on year to CHF1.910 billion, affected by credit provisions and net credit losses.
- The number of Relationship Managers (RMs) declined by 94% in the first half of the year due to low performance management and natural attrition.
- Net interest income declined by CHF151 million, impacted by lower interest rates and a mix shift to lower interest rate Swiss franc denominated loans.
- The company continues to face derisking-related outflows, with CHF1.4 billion in outflows reported in the first half of the year.
Ladies and gentlemen, welcome to the Julius Baer 2025 Half Year Results Presentation for Analysts and Investors. I am Sandra, the Chorus Call operator. (Operator Instructions) The conference is being recorded. The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Alexander van Leeuwen, Head of Investor Relations. Please go ahead, sir.
Good morning, everyone. This is Alex van Leeuwen, Head of Investor Relations. Welcome to the Julius Baer H1 results call. Before starting the presentation, I would like to flag the important information provided on Slide 2 of the presentation. It's now my pleasure to hand over to our CEO, Stefan Bollinger.
Thank you, Alex, and good morning, everyone. Thank you for dialing in for this half year results call. It's been an intense first six months of the
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