EFG International's Assets Under Management Rise

Dow Jones05-28

By Elena Vardon

EFG International said its assets under management rose 11% over the first four months of the year on net new assets, positive foreign exchange impacts and favorable market performance.

The Swiss private bank on Tuesday said its assets under management at the end of April stood at 157.5 billion Swiss francs ($172.38 billion), up from CHF142.2 billion at the end of 2023.

Net new assets for the period were CHF3.6 billion, representing an annualized growth rate of 7.6%, driven by the contribution of the new client relationship officers it hired the previous year.

The Zurich-based lender said net income was more than CHF110 million. It reported CHF303.2 million for 2023, which included over CHF90 million in the first quarter.

EFG said that its revenue margin for the January-to-April period was 96 basis points, a decline from 99 basis points for 2023 given a lower net interest income margin was partly offset by higher net banking and commission income margin.

At the end of the period, its common equity tier 1 ratio--a key measure of capital strength--was 17.4%, compared with 17.0% four months prior.

"Our strategy has been effective and we will continue to work towards our 2025 ambition of sustaining profitable growth and achieving scale," Chief Executive Giorgio Pradelli said.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

May 28, 2024 04:00 ET (08:00 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2438346277?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-28 16:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2438346277","market":"other","top_or_hot":-1,"title":"EFG International's Assets Under Management Rise","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Elena Vardon \n</p>\n<pre>\n \n</pre>\n<p>\n  EFG International said its assets under management rose 11% over the first four months of the year on net new assets, positive foreign exchange impacts and favorable market performance. \n</p>\n<p>\n  The Swiss private bank on Tuesday said its assets under management at the end of April stood at 157.5 billion Swiss francs ($172.38 billion), up from CHF142.2 billion at the end of 2023. \n</p>\n<p>\n  Net new assets for the period were CHF3.6 billion, representing an annualized growth rate of 7.6%, driven by the contribution of the new client relationship officers it hired the previous year. \n</p>\n<p>\n  The Zurich-based lender said net income was more than CHF110 million. It reported CHF303.2 million for 2023, which included over CHF90 million in the first quarter. \n</p>\n<p>\n  EFG said that its revenue margin for the January-to-April period was 96 basis points, a decline from 99 basis points for 2023 given a lower net interest income margin was partly offset by higher net banking and commission income margin. \n</p>\n<p>\n  At the end of the period, its common equity tier 1 ratio--a key measure of capital strength--was 17.4%, compared with 17.0% four months prior. \n</p>\n<p>\n  \"Our strategy has been effective and we will continue to work towards our 2025 ambition of sustaining profitable growth and achieving scale,\" Chief Executive Giorgio Pradelli said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Elena Vardon at elena.vardon@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 28, 2024 04:00 ET (08:00 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EFG International's Assets Under Management Rise</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEFG International's Assets Under Management Rise\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-28 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Elena Vardon \n\n\n \n\n\n  EFG International said its assets under management rose 11% over the first four months of the year on net new assets, positive foreign exchange impacts and favorable market ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2438346277","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2438346277","pubTimestamp":1716883200,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"EFG International said its assets under management rose 11% over the first four months of the year on net new assets, positive foreign exchange impacts and favorable market performance.The Swiss private bank on Tuesday said its assets under management at the end of April stood at 157.5 billion Swiss francs , up from CHF142.2 billion at the end of 2023.Net new assets for the period were CHF3.6 billion, representing an annualized growth rate of 7.6%, driven by the contribution of the new client relationship officers it hired the previous year.The Zurich-based lender said net income was more than CHF110 million. It reported CHF303.2 million for 2023, which included over CHF90 million in the first quarter.EFG said that its revenue margin for the January-to-April period was 96 basis points, a decline from 99 basis points for 2023 given a lower net interest income margin was partly offset by higher net banking and commission income margin.At the end of the period, its common equity tier 1 ra","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4588":"碎股","EFG":"iShares MSCI Growth Index Fund"},"translate_title":"EFG国际管理的资产增加","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EFG":1},"content_text":"By Elena Vardon \n\n\n \n\n\n  EFG International said its assets under management rose 11% over the first four months of the year on net new assets, positive foreign exchange impacts and favorable market performance. \n\n\n  The Swiss private bank on Tuesday said its assets under management at the end of April stood at 157.5 billion Swiss francs ($172.38 billion), up from CHF142.2 billion at the end of 2023. \n\n\n  Net new assets for the period were CHF3.6 billion, representing an annualized growth rate of 7.6%, driven by the contribution of the new client relationship officers it hired the previous year. \n\n\n  The Zurich-based lender said net income was more than CHF110 million. It reported CHF303.2 million for 2023, which included over CHF90 million in the first quarter. \n\n\n  EFG said that its revenue margin for the January-to-April period was 96 basis points, a decline from 99 basis points for 2023 given a lower net interest income margin was partly offset by higher net banking and commission income margin. \n\n\n  At the end of the period, its common equity tier 1 ratio--a key measure of capital strength--was 17.4%, compared with 17.0% four months prior. \n\n\n  \"Our strategy has been effective and we will continue to work towards our 2025 ambition of sustaining profitable growth and achieving scale,\" Chief Executive Giorgio Pradelli said. \n\n\n \n\n\n  Write to Elena Vardon at elena.vardon@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 28, 2024 04:00 ET (08:00 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2438346277"}