The Swiss private bank posted its biggest profit in history last year. Shareholders are in for a significantly higher dividend.
Last year Zurich-based Julius Baer Group increased its profit by 55 percent to 1.082 billion francs ($1.2 billion), exceeding the one billion franc mark for the first time, the company said in a statement Wednesday.
As a result of its record performance, the bank is proposing to pay a dividend of 2.60 francs to shareholders, up from 1.75 francs which it paid last year.
Net New Money
Assets under management (AuM) increased to 482 billion francs, up 11 percent over the year, while declining slightly in the fourth quarter. The full-year increase was driven by strong positive market performance in addition to strong net new money inflows.
The appreciation of the dollar more than offset the impact of a weaker euro, resulting in a slightly positive overall currency effect on assets under management, the bank said.
