Julius Bär Gruppe : 2021 Half-year Report Julius Baer Group Ltd. | PDF, 228 KB

HALF-YEAR REPORT

Julius Baer Group Ltd.

CONTENTS

HALF-YEAR REPORT 2021

JULIUS BAER GROUP LTD.

1. CONSOLIDATED INCOME STATEMENT
2. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
3. CONSOLIDATED BALANCE SHEET

6 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

8 CONSOLIDATED STATEMENT OF CASH FLOWS

1. NOTES TO THE FINANCIAL STATEMENTS

1. CAPITAL RATIOS

33 ABBREVIATIONS USED IN THE GROUP'S FINANCIAL STATEMENTS

This Half-Year Report appears only in English.

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Half-year Report 2021 Julius Baer Group Ltd.

CONSOLIDATED INCOME STATEMENT

		Note	H1 2021	H1 2020	H2 2020	Change
		CHF m	CHF m	CHF m to H1 2020 in %
Interest income on financial instruments		367.7	468.7	356.5	-21.5
measured at amortised cost or FVOCI
Interest expense on financial instruments		59.3	135.3	68.2	-56.1
measured at amortised cost
Net interest income	1	308.4	333.4	288.3	-7.5
Commission and fee income		1,292.1	1,148.2	1,101.9	12.5
Commission expense		137.4	115.4	119.7	19.0
Net commission and fee income	2	1,154.7	1,032.8	982.3	11.8
Net income from financial instruments	3	502.5	515.2	428.2	-2.5
measured at FVTPL
Net credit losses/(recoveries) on financial assets		1.0	48.5	-13.0	-
Other ordinary results		28.4	18.0	20.5	58.1
Operating income		1,992.9	1,850.8	1,732.3	7.7
Personnel expenses	4	849.1	853.9	741.7	-0.6
General expenses	5	318.0	306.1	404.6	3.9
Depreciation of property and equipment		49.0	49.4	51.1	-0.8
Amortisation and impairment of customer relationships	28.9	29.3	40.8	-1.3
Amortisation and impairment of intangible assets		41.0	35.0	225.4	17.3
Operating expenses		1,286.1	1,273.6	1,463.6	1.0
Profit before taxes		706.9	577.2	268.7	22.5
Income taxes		100.9	86.2	61.1	17.0
Net profit		606.0	491.0	207.7	23.4
Attributable to:		605.8
Shareholders of Julius Baer Group Ltd.		490.9	207.1	23.4
Non-controlling interests		0.2	0.0	0.6	-
			606.0	491.0	207.7	23.4
			H1 2021	H1 2020	H2 2020	Change
Share information		CHF	CHF	CHF	to H1 2020 in %
Basic earnings per share (EPS)		2.81	2.28	0.96	23.2
Diluted earnings per share (EPS)		2.81	2.27	0.96	23.6
Weighted average number of shares outstanding		215,578,789	215,226,886	215,016,327

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Half-year Report 2021 Julius Baer Group Ltd.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	H1 2021	H1 2020	H2 2020
	CHF m	CHF m	CHF m
Net profit recognised in the income statement	606.0	491.0	207.7
Other comprehensive income (net of taxes):
Items that may be reclassified to the income statement
Net unrealised gains/(losses) on debt instruments	-26.4	56.6	49.1
measured at FVOCI
Net realised (gains)/losses on debt instruments	-9.6	-2.4	-12.6
measured at FVOCI reclassified to the income statement
Effective portion of changes in fair value of	-1.7	-	-
hedging instruments designated as cash flow hedges
Translation differences	74.6	-111.9	-53.7
Realised (gains)/losses on translation differences	-	0.0	2.5
reclassified to the income statement
Items that will not be reclassified to the income statement
Net unrealised gains/(losses) on equity instruments	48.1	-4.7	-6.9
designated at FVOCI
Gains/(losses) from own credit risk on	0.9	-4.6	0.7
financial liabilities designated at fair value
Remeasurement of defined benefit obligation	59.2	-43.9	64.9
Other comprehensive income	145.2	-110.9	44.0
Total comprehensive income	751.2	380.1	251.7
Attributable to:	751.0
Shareholders of Julius Baer Group Ltd.	380.1	251.1
Non-controlling interests	0.2	-0.1	0.6
	751.2	380.1	251.7

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