Historic year for Julius Baer

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The covid year has been a memorable and profitable one for Julius Baer. The Zurich bank saw its net profit increase by 50% to 698 million francs last year, according to figures released Monday morning. Operating income rose 5.9% last year to 3.58 billion francs. Expenses remained stable (+ 0.1%) at 2.47 billion. The cost-to-income ratio improved by 4.7 percentage points to 66.4% and the gross margin stood at 88 basis points (bps), compared to 82 bps the previous year.

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