|Consolidated income statement|
|Adjusted operating expenses||2,004.8||2,385.4||-16.0|
|Profit before taxes||847.6||309.0||174.3|
|Adjusted net profit for the Group||705.5||279.2||152.7|
|excluding 2015 US provision2||705.5||701.5||0.6|
|Cost / income ratio3||68.9%||67.2%||-|
|Pre-tax margin (basis points)||27.1||10.7||-|
|Assets under management (CHF bn)||31.12.2016||31.12.2015||Change |
|Assets under management||336.2||299.7||12.2|
|Net new money||11.9||12.1||-|
|Consolidated balance sheet (CHF m)|
|BIS total capital ratio||17.5%||19.4%||-|
|BIS CET1 capital ratio||16.4%||18.3%||-|
|Number of employees||6,026||5,364||12.3|
|Number of relationship managers||1,383||1,217||13.6|
|Number of shares||223,809,448||223,809,448||-|
|Market capitalisation (CHF m)||10,123||10,891||-7.0|
|Moody's rating Bank Julius Baer & Co. Ltd.4|
|Long-term deposit rating||Aa2||Aa2|
|Short-term deposit rating||Prime -1||Prime -1|
|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 17.5% and the BIS CET1 capital ratio of 16.4% are well above the Group's target ratios and significantly in excess of the regulatory minimums.
1 Adjusted results derived by excluding from the audited IFRS financial statements the integration and restructuring expenses as well as the amortisation of intangible assets related to previous acquisitions or divestments.
2 Excluding in 2015 the CHF 422.3 million impact on net profit of the USD 547.25 million settlement amount provisioned 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 Calculated using adjusted operating expenses, excluding valuation allowances, provisions and losses.
4 Agency Ratings
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.