EFG International posts record profit of $279 million

(Reuters) -EFG International's net profit grew by 36% year-on-year to a record 221.2 million Swiss francs ($278.80 million) in the first half of 2025, the Swiss bank said on Wednesday.

This included a previously announced 45.4-million-franc net contribution from an insurance recovery. Excluding this one-time effect, profit grew by 8% to 175.8 million francs, the bank added in its half-year statement.

Net new assets totalled 5.4 billion francs, beating expectations.

Assets under management were down 2% at 162.3 billion francs compared with the end of 2024, the bank said.

($1 = 0.7934 Swiss francs)

(Reporting by Ariane Luthi, Editing by Rachel More)