{
EFG International

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}
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001122334455554433221100

hsbc ceo outlines restructuring plans after record profits and rising interest income

Georges Elhedery, HSBC's new CEO, is implementing a significant restructuring plan aimed at cutting costs by $1.5 billion annually while investing $1.5 billion in business expansion, particularly in Asia and the UK. Despite record profits exceeding $32 billion in 2024, analysts express concerns over the sustainability of the bank's savings strategy.
investrends.ch
United States Dollar EFG International GBR Georges Elhedery Kian Abouhossein Noel Quinn Show more
Business & Industry, Market Report
13:54 19.02.2025

efg international to acquire cité gestion and reports strong profit growth

EFG International plans to acquire Swiss private bank Cité Gestion, which manages CHF 7.5bn in assets, pending regulatory approval. The announcement follows a report of a net profit of CHF 321.6m for 2024, a 6% increase from the previous year, with assets under management rising to CHF 165.5bn, a 16% growth from 2023.
Switzerland
Swiss Franc EFG International CHE
Business & Industry, Market Report
12:06 19.02.2025

efg international reports strong earnings and acquires cite gestion in geneva

EFG International reported a 6% increase in net profit for 2024, reaching CHF 321.6 million, and plans to raise its dividend by 5 centimes to CHF 0.60 per share. The acquisition of Cité Gestion, expected to close in late 2025, will enhance earnings per share from 2026, while assets under management rose by 16.3% to CHF 165.5 billion.
Zonebourse
Swiss Franc EFG International CHE Giorgio Pradelli
Business & Industry, Market Report
11:30 19.02.2025

EFG International reports record profit and acquires Cite Gestion

EFG International reported a record net profit of 321.6 million Swiss francs for 2024, up from 303.2 million francs the previous year, alongside a rise in assets under management to 165.5 billion francs. The bank attributed this growth to higher net new assets, positive foreign-exchange impacts, and strong market performance, with net new assets increasing to 10.1 billion francs, exceeding its target growth rate. Additionally, EFG announced the acquisition of Cite Gestion, although the terms were not disclosed.
Investing.com India
Swiss Franc EFG International CHE
Business & Industry, Market Report
11:13 19.02.2025

EFG International reports record profits and acquires Cité Gestion

EFG International reported a record net profit of 321.6 million Swiss francs for 2024, up from 303.2 million francs the previous year. The bank's assets under management rose to CHF 165.5 billion, driven by higher net new assets of CHF 10.1 billion, attributed to new relationship managers and market recovery. Additionally, EFG announced the acquisition of Cité Gestion, with terms undisclosed.
Investing.com France
Swiss Franc EFG International CHE
Business & Industry, Market Report
11:10 19.02.2025

efg international reports record profits and acquires cite gestion

EFG International reported record profits for 2024, with a net profit of 321.6 million Swiss francs, up from 303.2 million francs the previous year. The bank's assets under management grew to CHF 165.5 billion, driven by net new assets of CHF 10.1 billion and strong performance in the Asia-Pacific region. Additionally, EFG announced the acquisition of Cite Gestion, although the terms were not disclosed.
Investing.com Deutsch
United States Dollar Swiss Franc EFG International CHE
Finance & Economy, Market Report
11:10 19.02.2025

efg international reports profit increase and plans cité gestion acquisition

EFG International reported a net profit of 321.6 million Swiss francs in 2024, marking a 6% increase from the previous year. The bank announced its acquisition of Cité Gestion, which manages approximately CHF 7.5 billion in assets, with the deal expected to close in the second half of 2025, pending regulatory approvals.
MarketScreener
Swiss Franc EFG International CHE Dave Graham Thomas Seythal
Business & Industry, Market Report
10:35 19.02.2025

efg international reports profit rise and plans acquisition of cite gestion

EFG International reported a net profit of 321.6 million Swiss francs for 2024, a 6% increase from the previous year, and announced the acquisition of Cité Gestion, which has 7.5 billion francs in assets under management. The transaction, expected to close in the second half of 2025, will boost EFG's total assets to approximately 175 billion francs. CEO Giorgio Pradelli expressed confidence in exceeding future growth targets and indicated plans for further acquisitions.
TradingView
Swiss Franc Cité Gestion SA EFG International CHE Giorgio Pradelli
Business & Industry, Market Report
10:35 19.02.2025

EFG International reports record profits and acquires Cité Gestion bank

EFG International reported record net profits of 322 million francs for 2024, a 6% increase from the previous year, despite a strong performance in 2016 due to the BSI acquisition. The Zurich-based banking group announced the acquisition of Cité Gestion, a private bank managing 7.5 billion francs in assets, catering to ultra-rich clients across Switzerland, Europe, and Latin America. EFG's total assets under management rose to 167 billion francs, reflecting a 16% growth over the past year.
rsi
Swiss Franc Cité Gestion SA EFG International CHE
Finance & Economy, Market Report
10:16 19.02.2025

efg international reports significant profit growth in asia for 2024

EFG International more than doubled its 2024 net profit in Asia, reaching 29.6 million Swiss francs, driven by a 36% increase in net banking and fee commission income. The bank plans to enhance growth through strategic hiring of relationship managers and expanding its business in Hong Kong and Singapore, while also leveraging synergies from its acquisition of Shaw and Partners.
finews.asia
Swiss Franc EFG International CHE SGP
Business & Industry, Market Report
10:08 19.02.2025
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