Financial Results
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.
