Key facts
- Julius Baer's net profit for the first half of 2026 rose 128% year-over-year to 673 million Swiss francs.
- Net new money inflows reached 5.7 billion Swiss francs in the first six months of the year.
- The bank expects its de-risking strategy to continue affecting operations until 2027.
- Julius Baer aims for 4%-5% net new money growth by 2028.
- A new CFO is set to be appointed as part of a management overhaul.
Swiss private bank Julius Baer reported a significant increase in net profit for the first half of the year, reaching 673 million Swiss francs, a 128% rise from the previous year which was impacted by loan loss provisions. The bank also announced that net new money for the period amounted to 5.7 billion Swiss francs, surpassing expectations and indicating a recovery after a slow start to the year.
Despite the positive financial results, Julius Baer stated that the implementation of its revised risk and compliance framework continues to affect its progress. The bank warned that the impact of its de-risking strategy is likely to persist into 2027. However, it reaffirmed its commitment to a net new money growth target of 4%-5% by 2028.
In terms of leadership, the bank is nearing the completion of a management overhaul with the upcoming appointment of Peter Burrill as its new chief financial officer in August, subject to regulatory approval. CEO Stefan Bollinger expressed confidence in the bank's current setup, noting progress in establishing the 'second line' of defense.