Reports
Bank J Safra Sarasin Group Logs Profit, AuM Rise
The bank said it was particularly pleased about figures for net new money last year.
Switzerland-based Bank J
Safra Sarasin Group yesterday reported a 5.7 per cent
year-on-year rise in net profit, reaching SFr423.2 million
($461.1 million).
Assets under management grew by 16.8 per cent to SFr224.7
billion, with net new assets of SFr15.0 billion, the bank said in
a statement.
The group said it had a “strong balance sheet” of SFr42.3 billion
with liquid assets of SFr8.8 billion at the end of 2021.
The Common Equity Tier 1 figure – a standard international
measure of a bank’s capital buffer – was SFr5.7 billion, rising
from SFr5.4 billion at the end of 2020, equating to a CET1 ratio
of 38.7 per cent, well over international and domestic Swiss rule
requirements.
“We are delighted with the performance of the group in 2021,
particularly the growth in net new assets,” Jacob J Safra,
chairman of the group, said.
