July 23, 2018 / 5:22 AM / a year ago

Julius Baer reports 19 percent rise in first half profit

ZURICH, July 23 (Reuters) - Julius Baer highlighted increasingly cautious market conditions amid rising trade tensions on Monday as the Swiss private bank reported a 19 percent rise in adjusted net profit for the first half of 2018.

"Markets had a strong and upbeat start to the year but ended the first half on a more cautious note, pondering the potential impacts of trade tensions and of an impending end to quantitative easing," Chief Executive Bernhard Hodler said in a statement.

Baer, Switzerland's third-largest listed bank, brought in 10 billion Swiss francs ($10.09 billion) in net new money in the first six months of 2018, a growth rate of 5 percent, within its 4-6 percent medium-term target range. ($1 = 0.9908 Swiss francs) (Reporting by John Revill Editing by Shri Navaratnam)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below