(RTTNews) - Julius Baer Group Ltd. (JBARF.PK, JBAXY.PK) reported that its first half IFRS net profit attributable to shareholders rose 43% year-on-year to 491 million Swiss francs. IFRS earnings per share was up 45% to 2.28 francs. Net profit adjusted for M&A-related items was up 34% to 524 million francs and adjusted earnings per share rose 36% to 2.43 francs.
First half operating income grew by 9% to 1.85 billion Swiss francs. Net commission and fee income rose by 8% to 1.03 billion francs. Net interest income declined by 19% to 333 million francs.
Assets under management declined to 402 billion Swiss francs, a decrease of 6%, since the end of 2019, as the impact of negative market performance and the strengthening of the Swiss franc more than offset the continued positive net new money contribution.
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