|Change to |
H1 2015 in %
|Consolidated income statement|
|Adjusted operating expenses||939.6||1,279.7||1,105.6||-26.6|
|Profit before taxes||485.0||128.2||180.8||278.3|
|Adjusted net profit for the Group||402.0||108.8||170.4||269.5|
|excluding US provision2||402.0||384.0||317.5||4.7|
|Adjusted EPS attributable to shareholders of Julius Baer |
Group Ltd. (CHF)
|excluding US provision2||1.84||1.75||1.45||5.3|
|Cost / income ratio3||64.7%||64.7%||69.9%||-|
|Pre-tax margin (basis points)||32.2||9.0||12.4||-|
|Client assets (CHF bn)||30.06.2016||30.06.2015||31.12.2015||Change to 31.12.2015 in %|
|Assets under management||311.4||284.0||299.7||3.9|
|Average assets under management (in period)||300.8||283.9||292.0||3.0|
|Net new money (in period)||5.5||6.5||5.6||-|
|Assets under custody||86.0||84.6||85.8||0.2|
|Total client assets||397.4||368.6||385.5||3.1|
|Consolidated balance sheet (CHF m)|
|BIS total capital ratio||17.3%||20.3%||19.4%||-|
|BIS CET1 capital ratio||15.9%||19.1%||18.3%||-|
|Return on equity (ROE) annualised4||25.1%||6.3%||10.5%||-|
|Number of employees (FTE)||5,856||5,378||5,364||9.2|
|of whom in Switzerland||3,301||3,162||3,064||7.7|
|of whom abroad||2,555||2,216||2,300||11.1|
|Number of shares||223,809,448||223,809,448||223,809,448||-|
|Weighted average number of shares outstanding||217,349,612||218,697,020||218,613,533||-|
|Share capital (CHF m)||4.5||4.5||4.5||-0.5|
|Book value per share |
|Market capitalisation (CHF m)||8,686||11,739||10,891||-20.2|
|Moody's long-term deposit rating Bank Julius Baer & Co. Ltd.5||Aa2||Aa2||Aa2||-|
|Zurich, Switzerland||SIX Swiss Exchange, under the securities number 10 248 496.|
Member of the Swiss Market Index SMI.
The BIS total capital ratio of 17.3% and the BIS CET1 capital ratio of 15.9% are well above the Group's target ratios and significantly in excess of the regulatory minimums.
1 Adjusted results derived by excluding from the reviewed IFRS financial statements the integration and restructuring expenses, the amortisation of intangible assets related to previous acquisitions or divestments.
2 Excluding the net profit impact of CHF 275.2 million provisioned in H1 2015 and of CHF 147.1 million provisioned in H2 2015 of the total USD 547.25 million settlement amount in connection with the final settlement with the US Department of Justice reached on 5 February 2016 concerning Julius Baer's legacy US cross-border business.
3 alculated using adjusted operating expenses, excluding valuation allowances, provisions and losses.
4 Adjusted net profit/average shareholders' equity less goodwill.
Following the publication of its revised bank rating methodology and as initiated in March 2015, Moody’s Investors Service has concluded its rating reviews on 21 May 2015. Moody’s assigned ratings to Bank Julius Baer & Co. Ltd. as follows:
In addition, Moody’s introduced a new rating called ‘Counterparty Risk Assessment’ for which Bank Julius Baer was assigned an Aa3(cr) for the long term and a Prime-1(cr) for the short term. The Counterparty Risk Assessment is an opinion of the counterparty risk related to a bank's covered bonds, contractual performance obligations (servicing), derivatives (e.g. swaps), letters of credit, guarantees and liquidity facilities.