Julius Baer falls after 4M inflows miss estimates, overshadow margin strength

Julius Baer Gruppe AG

22/05/2026 08:34

** Shares in Julius Baer BAER.S falls 7.6% after the Swiss bank reported its net new money below expectations for the first 4 months

** Julius Baer posts its 4M net money inflows of 3 billion Swiss francs ($3.81 billion), missing J.P. Morgan's estimate of 5 billion Swiss francs, cited by the broker

** "Soft new money takes some shine off very strong margin and positive operating leverage," JPM says

** Vontobel says the company's 4M report came in with surprisingly a weak net new money, despite very strong activity-driven income, boosting margins and cost/income ratio

** Julius Baer's gross margin rose to 90 basis points (bp), compared to an underlying level of 80 bp last year

** The stock sinks to the bottom of Switzerland's mid-cap index .SMIM and is among the worst performers on the pan-European STOXX 600 .STOXX index

($1 = 0.7870 Swiss francs)

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))