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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Shares of Swiss bank Julius Baer react to H1 financial results

13:53 25 July 2022

 Swiss bank Julius Baer (BAER.CH) started today's trading session with a sizable downward gap, triggered by weak results for the first half of 2022. Nevertheless, the bulls managed to negate today's discount and the stock is currently gaining more than 1.5%. 

  • Higher costs and a decline in customer activity led to a 26% drop in first-half earnings. Net income attributable to shareholders was 451 million francs (Refinitiv had forecast 477 million francs). 

  • Operating income fell to 1.87 billion francs against a forecast of 1.9 billion francs

  • Turmoil in global financial markets led to an 11% drop in assets under management to 428 billion francs. 

  • As a result of the poor performance, the Bank will suspend recruitment of new employees.

Nevertheless, the Bank communicated that the peri-market situation has begun to improve, and Julius Baer is well positioned for a possible market rebound. 

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The bank is seeing a significant improvement in terms of customer activity through May and June 2022. Source: Julius Baer 

 

The shares of Julius Baer Bank (BAER.CH) have negated the downward gap from earlier in the day and are currently trading up more than 1.5%. Source: xStation 5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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