Financial Results

Profits Rise At J Safra Sarasin Group

Editorial Staff 4 April 2024

Profits Rise At J Safra Sarasin Group

The Swiss private banking group reported its main financial results for last year.

J Safra Sarasin Group, the Swiss bank based in Basel (pictured), yesterday reported a net profit of SFr470 million ($520 million) for 2023, rising 6.9 per cent on a year before.

Assets under management increased to SFr204.3 billion at the end of 2023, supported by positive net new assets of SFr7.4 billion during the year, it said in a statement. 

At the end of 2023, J Safra Sarasin had a Common Equity Tier 1 capital ratio – an international yardstick of a bank’s capital “shock absorber” – of 47.0 per cent, far above regulatory requirements.

“2023 was a year of resilience and positive developments: while retaining a strong financial position, we reinforced our presence in key markets and expanded our capabilities for the benefit of our clients,” Jürg Haller, chairman of the board of Bank J Safra Sarasin, said. 

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