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EFG International reported a 6% increase in net income for 2024, reaching 321.6 million Swiss francs, with operating income up 5% to nearly 1.5 billion. The bank saw significant inflows of new money totaling 10.1 billion Swiss francs and a 16.3% rise in assets under management to 165.5 billion. Additionally, the Board of Directors proposed a dividend increase to CHF 0.60 per share and announced the acquisition of Cité Gestion, pending regulatory approval.
EFG International reported a net profit of 321.6 million Swiss francs ($356 million) for 2024, marking a 6% increase from the previous year. The firm is set to acquire Cité Gestion, a Swiss private bank with approximately CHF 7.5 billion in assets, with the deal expected to close in the second half of 2025, pending regulatory approvals. EFG's new assets grew by 7.1%, surpassing its target range of 4-6%.
EFG International reported a net profit of 321.6 million Swiss francs in 2024, marking a 6% increase from the previous year. The bank is set to acquire Cité Gestion, which has approximately 7.5 billion francs in assets under management, with the deal expected to close in the second half of 2025, pending regulatory approval.
EFG International reported a profit of CHF 321 million for 2024, with client assets under management rising to CHF 165.5 billion and net new assets of CHF 10.1 billion, a significant increase from the previous year. The bank's cost/income ratio improved slightly to 72.9%, and it successfully onboarded new client advisors, raising assets per advisor to CHF 348 million. Additionally, four new members are proposed for the Board of Directors, and a dividend increase to 60 centimes per share is suggested.
Swiss wealth manager EFG International reported a 6% increase in net profit for 2024, reaching a record 321.6 million Swiss francs, driven by higher revenues and lower costs. The bank's return on equity hit 18.6%, surpassing its target, while net new money grew by 10.1 billion francs, exceeding expectations. EFG is also expanding through the acquisition of Swiss private bank Cite Gestion, which has assets under management of approximately 7.5 billion francs.
EFG International reported a record profit of 321.6 million Swiss francs for 2024, a 6.1% increase from the previous year, and plans to raise its dividend by 9% to CHF 0.60 per share. The bank also announced the acquisition of Geneva-based Cité Gestion, expected to close in the second half of 2025, which will enhance its presence in Switzerland and is projected to be accretive to earnings per share from 2026.
EFG International reported a 6% increase in net profit for 2024, reaching CHF 321.6 million, and announced a higher dividend of 60 centimes per share. The bank also acquired Geneva-based Cité Gestion, which managed CHF 7.5 billion in assets, while net new assets surged to CHF 10.1 billion, exceeding expectations.
EFG International reported a six percent increase in net profit for 2024, reaching a record CHF 321.6 million, driven by higher revenues and lower costs. The bank's return on equity hit 18.6 percent, surpassing its target, while net new money grew by 10.1 billion francs, exceeding expectations. EFG is also expanding through the acquisition of Swiss private bank Cite Gestion, which has CHF 7.5 billion in assets under management.
EFG International reported a net profit of 321.6 million francs for 2024, marking a 6% increase from the previous year. The bank will propose a record dividend of 0.60 francs per share, a 9% rise, reflecting its commitment to a progressive dividend policy. Additionally, EFG attracted 10.1 billion francs in net new assets, exceeding its growth target.
EFG International's Liechtenstein branch has welcomed four former client advisors from Banque Havilland, following the latter's decision to cease operations and enter voluntary liquidation. The new hires, including Metin Emer, Matthias Delvavier, Daniel Gunsch, and Raphaela Dietsche, will report directly to CEO Tobias Wehrli. The potential for an asset deal remains uncertain, as EFG International has not commented further on the situation.
EFG International
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