Market Overview

Julius Baer Group Posts Rise In Profit


Julius Baer Group Ltd. (OTC: JBAXY) reported a rise in its net profit for the full year.

Its IFRS net profit for the period jumped 96% to 367 million Swiss francs.

The company's adjusted net profit gained 22% to 586 million francs, while adjusted EPS climbed 20% to 2.68 francs.

Julius Baer Group's operating income jumped 16% to 2.5 billion francs.

At the end of 2014, assets under management rose 14% to 291 billion francs versus year end 2013.

The bank also announced its plans to lower about 200 jobs.

Julius Baer shares fell 1.59% to close at $8.05 on Friday.


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