Julius Baer (SWX: BAER) Profit Jumps as New Money Flows From Credit Suisse (CS)

Julius Baer Group Ltd.’s profit jumped in the first half of 2023, aided by better-than-expected inflows of client funds amid the crisis surrounding local rival Credit Suisse.

Net income in the period rose 18% to 532 million Swiss francs ($614 million), the bank said in a statement Monday. Clients added 7.1 billion francs in new money, more than the 6.2 billion francs analysts had estimated.

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