February 28, 2018 / 6:23 AM / 6 months ago

EFG International reports worse than expected 2017 loss

ZURICH, Feb 28 (Reuters) - EFG International on Wednesday reported a worse-than-expected full year net loss as it absorbed integration costs from its takeover of rival Swiss private bank BSI.

EFG reported a net loss of 59.8 million Swiss francs ($63.63 million) worse than the 4.7 million franc Swiss franc loss expected by analysts polled by Reuters, as net new money remained negative.

The Zurich-based bank reported outflows of 5.8 billion francs, a worsening from the 5.4 billion francs leaving the bank during 2016 following its purchase of BSI. The company's dividend was kept at 0.25 francs per share, the same level as a year earlier.

$1 = 0.9398 Swiss francs Reporting by John Revill

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