Julius Baer Profit Drops in 2025 Amid Writedowns but Beats Expectations

Julius Baer Reports 25% Profit Decline in 2025 Despite Beating Forecasts

Julius Baer's Financial Performance Overview

ZURICH, Feb 2 (Reuters) - Swiss bank Julius Baer on Monday reported a net profit of 764 million Swiss francs ($988 million) for 2025, which beat analyst expectations but was still down 25% from 2024 in a year marked by writedowns.

Profit and Credit Loss Details

The bank booked a net credit loss of 213 million francs in 2025, with previously announced loan loss allowances partly offset by credit recoveries.

Assets Under Management Growth

"All in all, 2025 was a successful transition year," CEO Stefan Bollinger said, after the writedowns he announced during his first year in the post.

Regulatory Assessments and Board Changes

Assets under management grew 5% to 521 billion francs, with net new money of 14.4 billion francs matching a Zuercher Kantonalbank forecast. 

These inflows and rising global equity market valuations more than offset the impact of a stronger Swiss franc, Julius Baer said. 

The bank was still under an enforcement assessment by Swiss financial market authority FINMA for major losses incurred prior to Bollinger taking up the post. The assessment prohibits the bank from announcing new share buybacks.

Separately, Julius Baer announced changes to its board of directors, with current vice chairman Richard Campbell-Breeden set to step down in April. He is set to be succeeded by Juerg Hunziker, the bank said.

($1 = 0.7730 Swiss francs)

(Reporting by Ariane Luthi, Editing by Friederike Heine and Bernadette Baum)