EFG shares fall as Julius Baer reports $156 million writedown

EFG International AG

21/05/2025 11:25

** Shares of Swiss private banking group EFG International EFGN.S are down 1.7% (10:23 GMT) after peer Julius Baer BAER.S announced a $156 million writedown late on Tuesday, falling more than 5% on Wednesday

** An analyst says the results and messages given in the Julius Baer call would not attract interest in the Swiss private banking space

** EFG's four-month results, announced on Wednesday, were better than expected, Vontobel says

** Net profit came in at CHF 130 mln ($158.34 mln), up from CHF 110 mln in the same period a year prior

** Vontobel analysts also point out that EFG expects a net contribution of around CHF 45 mln in its H1 net profit from an insurance recovery

($1 = 0.8210 Swiss francs)

 (Reporting by Marleen Kaesebier and Bernadette Hogg)

 ((marleen.kaesebier@thomsonreuters.com))