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EFG International has nominated four new members for its Board of Directors ahead of the Annual General Meeting on March 21, 2025. The bank reported a 6% increase in net profit to CHF 321.6 million for 2024 and announced the acquisition of Geneva-based Cité Gestion, which managed CHF 7.5 billion in assets. Additionally, EFG experienced a strong inflow of new client assets, totaling CHF 10.1 billion, significantly exceeding its targets.
EFG International has nominated four new members for its Board of Directors to be elected at the General Meeting on March 21, 2025. Yvonne Bettkober, Luisa Delgado, Wanda Eriksen, and Konstantinos Tsiveriotis will succeed outgoing members, bringing expertise in digital transformation, luxury retail, finance, and global markets.
BNP Paribas has signed an agreement with the European Investment Bank (EIB) to generate up to €8 billion in wind energy investments across the EU, supporting the transition to net zero and enhancing the competitiveness of Europe’s renewable energy sector. The EIB's €500 million counter-guarantee will enable BNP Paribas to establish a €1 billion portfolio of bank guarantees, unlocking key investments for new wind farm projects and supply chain efficiency. This initiative aligns with the European Wind Power Package and aims to support the production of 32 GW of the 117 GW needed for the EU to achieve its renewable energy goals by 2030.
VP Bank (Luxembourg) hosted its inaugural "Mingle on the Top" event in 2025, featuring Michelin-starred chef Louis Linster. CEO Alexander Ziehl emphasized the synergy between culinary arts and finance, while Linster shared insights on business generational transfer, inviting guests to enjoy a culinary flying menu. The event aims to foster entrepreneurial spirit and innovation in Luxembourg, with the next gathering planned for mid-2025.
Over 70 guests attended the inaugural "Mingle on the Top" event hosted by VP Bank (Luxembourg), featuring Michelin-starred chef Louis Linster. CEO Alexander Ziehl emphasized the importance of building relationships in finance, while Linster shared insights on culinary innovation and generational business transmission. The event aims to foster entrepreneurship and will continue in mid-2025.
UBS has maintained a "Buy" rating for ArcelorMittal, setting a target price of 27.10 euros following the release of quarterly figures. Analyst Andrew Jones noted that the operating result (Ebitda) of the world's largest steel group significantly surpassed both UBS's forecast and consensus estimates.
UBS has rated ArcelorMittal as a 'Buy', but the information provided is for informational purposes only and does not constitute a recommendation to buy or sell. Investing in securities carries risks, including the potential total loss of capital, and expert investment advice is recommended. No liability for the accuracy or completeness of the information is assumed.
Finma Director Stefan Walter emphasizes that his role is not to enhance UBS's profitability but to ensure creditor protection and market functionality. He advocates for stricter capital requirements, which could force UBS to raise up to 25 billion in equity, despite the bank's opposition. Walter insists on the independence of the supervisory authority from political and lobbyist influences, arguing that strong regulation is essential for a stable financial center.
UBS reported a profit of USD 5.09 billion for 2024, leading to a 29% increase in dividends to USD 0.90 per share. However, the share price fell due to concerns over potential tightening of capital requirements, overshadowing the successful integration of Credit Suisse and cost reductions. The bank plans to conduct share buybacks of around USD 3 billion this year, contingent on stable capital regulations.
UBS reported a net profit exceeding five billion dollars in 2024, successfully integrating Credit Suisse clients outside Switzerland, with 90% already transitioned. However, the bank faces a significant challenge ahead as it prepares for the complex migration of Swiss clients and anticipates a tough battle over capital requirements amid political pressures. UBS plans to increase dividends and share buybacks, contingent on maintaining current capital adequacy standards.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
EFG International announces board nominations and reports profit increase in 2024
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