J. Safra Sarasin Group, a Swiss private bank, has registered a rise in net profit and assets under management (AuM) in 2019.

The firm’s net profit in 2019 stood at CHF380.2m, an increase of around 10% from CHF347.3m in the prior year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Supported by CHF5.6bn in net inflows, AuM climbed 13% to CHF185.8bn from CHF164.6bn.

The firm’s balance sheet was said to be strong at CHF36.6bn, including CHF8bn in liquid assets.

“Strength of balance sheet enabled significant increase in goodwill amortisation and release of general banking risk reserves,” J. Safra Sarasin stated.

The group tier 1 capital increased to CHF5bn from CHF4.7bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The firm’s CET1 ratio, a key measure of strength, was 31.3% at the end of December 2019. The ratio exceeded regulatory requirements, noted the firm.

The cost-income ratio at the end of 2019 was 59.6%.

J. Safra Sarasin Group vice chairman Jacob Safra: “We are pleased to report robust results again for 2019, which demonstrate the key principles that assure the Group’s stable performance year after year: client focus and internal discipline.

“2019 has seen the issues of environment and sustainability dominate the headlines.”

The year 2019 remained busy for the firm. In September 2019, the firm launched a new office in Amsterdam.

Earlier last year, the firm purchased the Gibraltar private banking unit of Lombard Odier.

The firm also made several leadership changes last year. These include the appointments of Daniel Belfer as its new CEO and Jürg Haller as its new chairman.

Additionally, the firm recently appointed Andy Chai as its new Asia CEO.