CcJt
2023-03-18

Underlying1, 2 net profit grew by 48% to CHF 248.7 million for 2022Proposed dividend of CHF 0.45 per share (+25%)Underlying return on tangible equity of 16.4% for 2022, compared to 10.6% in 2021Further increased operating leverage with underlying operating income up by 6.4% to

CHF 1,261.3 million and stable underlying operating expenses at CHF 951.7 millionUnderlying cost/income ratio improved to 75.4% from 79.9% in 2021Net new assets1 totalled CHF 4.2 billion, corresponding to an annual growth rate of 2.4%Assets under Management declined to CHF 143.1 billion at end-2022, reflecting the disposal of the Spanish private bank A&G and the market correctionIFRS net profit of CHF 202.4 million (-1.7%): reflecting substantial de-risking through final settlement of longstanding legacy issue relating to a client relationship with a Taiwanese insurance companyStrong capital positions, with a CET1 ratio of 16.6% and a Total Capital Ratio of 20.5% on

01 January 2023, reflecting reclassification of a portfolio of financial assetsSuccessful completion of the 2019-2022 strategic planGiorgio Pradelli, CEO of EFG International, commented: “Throughout 2022, we stayed close to our clients, focused on our strategic priorities and delivered strong operating results with record underlying net profit of CHF 249 million. At the same time, we have maintained our growth momentum during the year and now have recorded positive inflows for 15 consecutive quarters. We successfully completed our 2019-2022 strategic plan and took EFG’s profitability to the next level, while fundamentally transforming and de-risking the bank.”Commenting on EFG’s strategic priorities and outlook, he said: “We have entered our new strategic cycle 2023-2025 from a position of strength and are executing our plan with confidence. In this new cycle, we aim to maintain our strong growth trajectory and to further increase profitability and efficiency. We will focus on accelerating digitalisation, content innovation and continuing to invest in our people to help drive our performance. Our ambition is to provide attractive returns for our shareholders by further transforming the bank to constantly meet our clients’ needs in a rapidly evolving environment.”

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