The bank, like its Swiss peers, has noted that the impact of a falling US dollar versus the Swiss franc blunted the impact of rising markets and inflows. Growth in assets under management beat EFG's own target range, however.

EFG International, the Zurich-listed private bank, today announced that its net profit for the six months to 30 June surged by 36 per cent year-on-year to a record SFr221.2 million ($278.6 million). 

The figure includes a SFr45.4 million effect from previously-announced insurance recovery. When that impact is taken out, net profit is SFr175.8 million, rising 8 per cent on a year before.

Net new assets totalled SFr5.4 billion, corresponding to an annualised growth rate of 6.5 per cent, which beats EFG’s target range of 4 to 6 per cent, it said in a statement today. Assets under management totalled SFr162.3 billion at end-June 2025, slipping 2 per cent from the end of 2024. The negative impact of a stronger Swiss franc against the dollar blunted the effects of inflows and rising equities, EFG International said.

“We delivered a strong performance in the first half of 2025, with another record net profit and a net new asset growth rate above our target range. This strong result reflects the consistent and successful delivery of our strategy which builds on organic growth complemented by strategic acquisitions,” Giorgio Pradelli, CEO of EFG International, said. 

When the Cité Gestion and Investment Services Group acquisitions are accounted for, pro-forma assets under management totalled about SFr173 billion by the end of June.

The firm’s cost/income ratio narrowed to 66.7 per cent from 72.6 per cent a year earlier.

EFG International said 35 client relationship managers were hired or under offer in H1 2025. 

The firm said it has continued to remove risk from its business, with “significantly reduced life insurance exposure” at end-June 2025 after the divestment of the synthetic portfolio and the sale of approximately 22 per cent of the outright portfolio. (A synthetic life insurance portfolio is a collection of synthetic financial instruments that are designed to mimic other financial instruments. Synthetic instruments, according to one online definition, are custom-made investments that can be used to replicate the cash flows of an asset without owning it.)

Return on tangible equity was 24.4 per cent in the half-year period, beating EFG’s target range of 15 to 18 per cent. 

At the end of June, the firm had a Common Equity Tier 1 ratio of 17.1 per cent – a common international measure of a bank’s capital shock absorber.

Pradelli said EFG is “mindful of the challenges ahead, in particular the structural weakness of the US dollar and the expected interest rate cuts.”