Julius Baer’s $370 Million Profit Falls 35% on Loan Provisions, Brazil Sale; EFG Posts Record $279 Million Profit Despite $11.7 Billion Asset Loss

Julius Baer reported a net profit of $370 million for the first half of 2025, marking a 35% decline compared to the previous period. This decrease was primarily driven by higher loan loss provisions made in May and the sale of its Brazilian unit. Despite these challenges, the bank experienced better-than-expected inflows, reflecting positive client asset gathering under the leadership of new CEO Stefan Bollinger, who aims to steer the company past prior operational missteps. The results were also impacted by legacy charges. Meanwhile, EFG International posted a record profit of $279 million in the same period and anticipates a better-than-expected performance for the full year 2025. However, EFG noted that the weakening U.S. dollar reduced the value of its assets by 11.7 billion Swiss francs during the first half.