Swiss wealth manager Julius Baer reports $831.2m net profit for H1 2026, driven by net new money and lower credit losses.
Julius Baer posted a 128% year-on-year increase in first-half IFRS net profit to $831.2m, recovering from prior-year losses linked to credit provisions and a Brazilian divestment. Operating income rose 26% to SFr2.27bn, supported by an 80% jump in net interest income to SFr130m and reduced net credit losses of SFr23m, down from SFr130m in H1 2025.
Assets under management grew 5% year-to-date to SFr547bn, fueled by market gains, currency movements, and net new money inflows of SFr5.7bn. Total client assets, including custody assets, reached SFr649bn. Operating expenses edged up 2% to SFr1.46bn, while the firm targets SFr130m in gross efficiency gains by 2028.
Inflows were broad-based, with western Europe contributing strongly. Client releveraging resumed after a pause in early 2026, signaling renewed risk appetite among clients.