Half Year 2026 Efg International AG Earnings Call Transcript
Key Points
- EFG International AG (EFGIF) achieved a record CHF200 billion in assets under management, marking a significant milestone in the company's growth trajectory.
- The company reported a strong net new asset growth of CHF5.7 billion for the first half of 2026, exceeding their target range with a 6.2% increase.
- EFG International AG (EFGIF) recorded its highest net profit for a semester at CHF185 million, translating to a return on tangible equity of 22.4%, surpassing their 2028 target.
- The company successfully closed the acquisition of Quilvest, enhancing its scale and presence in major financial centers.
- EFG International AG (EFGIF) maintained a strong organic capital generation, with a core Tier 1 capital ratio exceeding 15%.
- The company experienced a decline in revenue margin, dropping from 97 basis points to 91 basis points, primarily due to interest rate fluctuations.
- Despite acquisitions, the cost-to-income ratio remains high at 71.5%, indicating room for improvement in operational efficiency.
- The integration of recent acquisitions has not yet fully realized expected synergies, impacting the cost-to-income ratio negatively.
- The life insurance portfolio's contribution to revenue has decreased, with expectations of it dwindling to zero in the coming years.
- Increased competition in hiring, particularly in Asia, poses challenges in attracting and retaining top talent.
We will have obviously two presentations after what we have today. And obviously, as usual, I also point out the disclaimer in the presentation.
And with any further delay, I hand over to Giorgio. Thank you.
Thank you. Thank you, Jens, and good morning. Good morning, everyone, and also from my side, a warm welcome to EFG Half Year 2026 results presentation.
I'm actually quite pleased to be here today in Zurich on a beautiful summer day. First of all, because we have a strong set of results and we're looking forward to presenting them to you, but also because yesterday we managed to closed the acquisition of Quilvest, a Zurich-based bank.
This was a transaction that we have announced back in January and after the regulatory approvals we were able, as I said, to close yesterday. And thanks to this acquisition, for the first time ever, EFG was able to cross the CHF200
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