EFG International rises on 'good' results, new money inflow increase expectations

EFG International AG

16/11/2023 09:00

** Shares in EFG International  EFGN.S  are up 3% after the
Swiss private bank reported "good" ten-month figures, as brokers
expect acceleration in the inflow of new money 
    ** The company's net profit for the first ten months came in
at CHF 240 Million 
    ** "Overall, EFG reported good key figures for the first ten
months," Zuercher Kantonalbank says
    ** The broker says more than 130 new client relationship
officers (CROs) were hired, which has already had a positive
impact on the net inflow of new money
    ** It adds that the inflow of new money corresponds to a
growth rate of 5.2% since July, which represents a good
momentum, which is likely to accelerate further
    ** Vontobel says the company is expected to accelerate
inflows going forward

 (Reporting by Bartosz Dabrowski in Gdansk)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))