Key figures
| 31.12.2022 | 31.12.2021 | Change in % | |
|---|---|---|---|
| Assets under management (CHF bn)* | 424.1 | 481.7 | -12.0 |
| Net new money (CHF bn) | 8.7 | 19.6 | - |
| Total assets (CHF m) | 105,643.7 | 116,305.8 | -9.2 |
| Total equity (CHF m) | 6,289.7 | 6,743.3 | -6.7 |
| BIS total capital ratio* | 21.7% | 24.0% | - |
| BIS CET1 capital ratio* | 14.0% | 16.4% | - |
| Number of employees | 6,891 | 6,727 | 2.4 |
| Number of relationship managers | 1,248 | 1,274 | -2.0 |
*In between the half-yearly financial reporting, updates on these figures are published in the 4-month and 10-month Interim Management Statements.
Further information can be found in the Key figures table below.
Julius Baer’s medium-term financial targets
Achieved all medium-term financial targets 2020 - 2022
| All targets are based on adjusted results1 | 2020 | 2021 | 2022 | Medium-term targets |
|---|---|---|---|---|
| Cost/income ratio | 66.4% | 63.8% | 65.9% | <67% by 2022 |
| Pre-tax margin | 27.2bp | 28.2bp | 27.0bp | 25-28bp by 2022 |
| Profit before taxes | CHF 1,114.5m | CHF 1,328.9m | CHF 1,199m 10.3% avg. growth (over cycle) | >10% growth p.a. over 2020-22 cycle2 |
| RoCET1 | 32% | 34% | 34% | >30% by 2022 |
The Group’s own floors are as follows:
- BIS Total Capital Ratio3: >15%
- BIS CET1 Capital Ratio4: >11%
1 Adjusted results are derived by excluding from the IFRS financial results the operating expenses related to acquisitions or divestments (M&A) and the taxes on those respective items. For definitions and more details please refer to the Alternative Performance Measures document, available below.
2 Relative to 2019 adjusted PBT of CHF 917m
3 BIS Total Capital Ratio: Total eligible capital divided by risk-weighted assets in %
4 BIS CET1 Capital Ratio: CET1 eligible capital divided by risk-weighted assets in %
Medium-term financial targets 2023 - 2025
| All targets are based on adjusted results1 | Medium-term targets |
|---|---|
| Cost/income ratio | <64% by 2025 |
| Pre-tax margin | 28-31bp by 2025 |
| Profit before taxes | >10% growth p.a. over 2023-25 cycle |
| RoCET1 | >30% over 2023-25 cycle |
1 Adjusted: Excluding expenses related to acquisitions or divestments (M&A-related expenses) and the taxes on those respective items. For definitions and more details please refer to the Alternative Performance Measures document, available below.
Agency ratings
Currently, Moody’s assigned ratings to Bank Julius Baer & Co. Ltd. as follows:
- Long-Term Deposit Rating: Aa3
- Short-Term Deposit Rating: Prime-1 (representing the highest possible short-term rating)
- Long-Term Senior Unsecured and Issuer Rating: A2
- Counterparty Risk Assessment: Aa3(cr) for the long term, Prime-1(cr) for the short term