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Julius Baer is divesting its Brazilian wealth management subsidiary to Banco BTG Pactual, while continuing to serve clients from other locations. The sale, valued at CHF 91 million, is expected to enhance Julius Baer's CET1 capital ratio by approximately 30 basis points and is set to close in early 2025, pending regulatory approvals.
Julius Baer has agreed to sell its Brazilian wealth management subsidiary to Banco BTG Pactual for CHF 91 million, a move expected to enhance its CET1 capital ratio by approximately 30 basis points. The sale, which is subject to regulatory approvals and anticipated to close in Q1 2025, allows Julius Baer to continue serving Brazilian clients from other locations while focusing on enhancing investment capabilities.
Hans Peter Brunner, a former banker embroiled in the 1MDB scandal, details his dramatic arrest and subsequent ordeal in his new book, "The Art of Greed," which explores the fraud from the perspective of mastermind Jho Low. Despite being cleared in 2021, Brunner's reputation suffered irreparably, leading to his ban from the banking industry and the downfall of BSI Bank, which faced severe penalties for money laundering violations. Brunner, who has a long history in banking, continues to reside in Singapore with his family.
Vontobel Research analyst Teresa Nielsen has resumed coverage of EFG International shares with a "hold" rating, following a period of limited coverage due to the firm's involvement in the IPO of EFG Financial Products. EFG International is well capitalized, with a total capital ratio of 17% and a Tier 1 capital ratio of 13.1% for FY12E. Analysts anticipate an increase in the dividend from CHF 0.10 per share and project an adjusted annual EPS growth of 18% for FY12-14, despite not expecting the company to meet its 2014 targets. The price target is set at CHF 12, with the next price impulse expected from FY12 results on February 27.
Shares of EFG International surged over 7% following UBS's upgrade to "buy," driven by improved earnings forecasts and a positive outlook on net new money inflows. Analysts noted EFG's strong asset growth, profitability, and financial flexibility, with a new price target of CHF 14.1 reflecting confidence in upcoming performance.
Shares of EFG International surged over 7% after UBS upgraded the stock to "buy," citing improved earnings forecasts and favorable market conditions. The bank raised EPS estimates by 5% for 2024 and highlighted EFG's strong asset growth, profitability, and financial flexibility, setting a new price target of CHF 14.1. This upgrade reflects heightened optimism in EFG's growth trajectory and potential for increased shareholder returns.
Shares of EFG International surged over 7% following UBS's upgrade to a "buy" rating, driven by improved earnings forecasts and favorable market conditions. Analysts anticipate continued net new money inflows of 4–6%, alongside strong asset growth and profitability metrics. UBS set a price target of CHF 14.1, reflecting confidence in EFG's financial prospects and potential for increased shareholder returns.
EFG International has received an upgrade from UBS, moving from a Neutral to a Buy rating. This change reflects a positive outlook on the company's performance and potential in the market. Investors may want to consider this shift in recommendation when evaluating their portfolios.
SMI is slightly lower ahead of the Fed's interest rate decision, with Nestlé and DocMorris showing weakness, while EFG International and Orascom HD are in demand. Oil prices have stabilized after recent losses, with Brent crude at $73.61 and WTI at $70.51, supported by a significant drop in US inventories, indicating a tightening supply that could drive prices higher.
Recent discussions on social media indicate a predominantly positive sentiment towards EFG shares, which have outperformed their sector peers with a remarkable 52.51% return. Technical analyses show a good rating based on price deviations, while the share is considered undervalued with a P/E ratio significantly lower than the industry average.
EFG International AG
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