J. Safra Sarasin Pushes Into New Dimensions
Swiss private bank J. Safra Sarasin, which also maintains a strong presence in Asia, significantly expanded its position last year: net profit increased remarkably once again.
Discretion characterizes J. Safra Sarasin. This is also evident in the communication of its annual results. The Swiss-Brazilian group only published a few figures on Monday evening; the annual report will be available online on 1 April 2025.
However, these few figures underline the robustness of the firm. The group's profit rose to 504.5 million Swiss francs ($570.8 million), enabling the private institution to gain further ground. In 2023, the result increased by 6.9 percent to 470.3 million francs.
The assets under management grew to 224.2 billion francs at the end of 2024, compared to 204.2 billion Swiss francs in 2023. Core capital increased from 5.7 billion to 5.8 billion Swiss francs. The core capital ratio of 42.7 percent underscores the group's stability and financial strength.
Expanded Presence
«The continued growth of assets under management and the high profitability strengthen the stability of our group and underline the lasting benefits of our long-term approach,» said Jacob J. Safra, President of J. Safra Sarasin Group.
Jürg Haller, Chairman of the Board of Directors of Bank J. Safra Sarasin, meanwhile highlighted the progress made by the private bank in 2024: «We not only consolidated our solid financial position, but also expanded our presence in key markets, broadened our expertise, and continued to focus on providing the expertise and stability our clients rely on,» he said.
Setting the Course for the Future
In mid-March, J. Safra Sarasin announced the acquisition of Saxo Bank. With this strategic investment, the firm aims both to increase its reach and to expand its expertise.
«Furthermore, by pooling our mutually complementary strengths, we are opening up opportunities for the future[...] with a particular focus on the next generations,» Safra added.
