One-Off Effects Dent Julius Baer IFRS Net Profit For 2025; Underlying Earnings Gain

Tom Burroughes

2 February 2026

today reported a net profit on IFRS accounting standards of SFr764 ($988 million) million for 2025, falling from SFr1.02 billion a year ago, due to various one-off effects. On an underlying basis, pre-tax profit rose 17 per cent year-on-year to SFr1.266 billion.

The one-time effects included the non-recurring release of tax provisions in 2024, the SFr99 million net impact from the completion of the sale of the domestic Brazilian business, Julius Baer Brasil Gestão de Patrimônio e Consultoria de Valores Mobiliários (Julius Baer Brazil), in March 2025, and net credit losses of SFr213 million booked during 2025, the Zurich-listed group said in a statement.

Assets under management rose by 5 per cent to SFr521 billion, supported by SFr14.4 billion in net new money.

Julius Baer said it achieved gross cost savings of SFr130 million on a run-rate basis by the end of 2025 and beat the original SFr20 million goal.

At the end of 2025, the lender said it had a Basel III Common Equity Tier 1 ratio – a standard international measure of a bank’s capital shock absorber – of 17.4 per cent and a total capital ratio of 24.7 per cent.

The bank’s board of directors said it will propose an unchanged ordinary dividend of SFr2.60 per share for the financial year 2025.

“We are now fully focused on delivering profitable growth and the execution of our strategic transformation,” Stefan Bollinger, CEO, said.

Assessing its inflows last year, Julius Baer said they mainly came from clients domiciled in markets in Asia (especially Hong Kong, India, Singapore, and Thailand), Western Europe (the UK and Ireland, Germany, and Iberia), and the Middle East (primarily the UAE).

The effect of inflows and rising markets were more than offset by the impact of the stronger Swiss franc (particularly versus the dollar) and the sale and deconsolidation of Julius Baer Brazil (with AuM of SFr8 billion).

Shares in the bank are down about 1.8 per cent since the start of this year.