Among other details, EFG International said it has continued to remove risks with the sale of part of a life insurance portfolio, announced in February.

EFG International, the Switzerland-headquartered private bank, yesterday announced a net profit of SFr130 million ($157.6 million) in the first four months of 2025, versus SFr110 million a year earlier.

The firm said its annualised return on tangible equity was above 21 per cent for the period, according to a statement yesterday. 

Net new assets totalled SFr3.0 billion, equating to an annualised growth rate of 5.5 per cent, at the upper end of EFG’s target range of 4 to 6 per cent. Total assets under management fell to SFr159.2 billion at the end of April, from SFr165.5 billion at the end of last year. The move was mainly caused by net foreign exchange impacts of around SFr8.5 billion as the Swiss franc strengthened, and strong net new assets.

EFG said its cost/income ratio stood at about 70 per cent in the first four months of 2025, down from 72.9 per cent for the full year of 2024.

At the end of April, EFG’s Common Equity Tier 1 ratio was 17.1 per cent.

The firm said it continued to de-risk its finances. This follows the divestment of the synthetic life insurance portfolio in February 2025.