EFG, a bank based in Zurich, experienced strong net inflows in all regions, with a particular focus on Asia, during the first ten months of 2024.

The bank achieved net new assets of 7.4 billion Swiss francs ($8.4 billion), surpassing its target range of 4.6% with an annualized growth rate of 6.3%. Revenue-generating assets under management increased from 142.2 billion francs at the end of 2023 to approximately 159 billion francs, driven by net inflows, positive market performance, and favorable foreign exchange impacts.

Although net profit for the period decreased from 303.2 million francs in 2023 to 260 million francs, EFG International CEO Giorgio Pradelli emphasized the bank"s resilience, highlighting strong client activity and increased mandate penetration. The significant net asset inflows reflect client trust and the success of strategic investments made in 2023, particularly the hiring of client relationship officers, which have significantly contributed to the bank"s total net new assets.