Supporting material for the full-year results presentation of 1 February 2021.

CONSOLIDATED FINANCIAL STATEMENTS

JULIUS BAER GROUP 2020 (AUDITED)

  1. CONSOLIDATED FINANCIAL STATEMENTS
  1. Consolidated income statement
  2. Consolidated statement of comprehensive income
  3. Consolidated balance sheet
  1. Consolidated statement of changes in equity
  1. Consolidated statement of cash flows

10 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  1. COMMENT ON RISK MANAGEMENT
  1. Risk management framework
  1. Risk tolerance framework
  2. Risk governance
  1. Risk culture
  2. Group risk landscape
  1. Capital planning and liquidity contingency plan
  2. Stress testing
  3. Risk reporting
  4. The three lines of defence
  5. Credit risk
  1. Market risk
  1. Treasury risk
  1. Non-financialrisk

39 COMMENT ON CAPITAL MANAGEMENT

  1. Management of capital including regulatory capital
  1. Leverage ratio

43 INFORMATION ON THE CONSOLIDATED INCOME STATEMENT

43 Net interest income

  1. Net commission and fee income
  2. Net income from financial instruments measured at
    FVTPL
  1. Other ordinary results
  1. Personnel expenses
  2. General expenses

45 Income taxes

48 INFORMATION ON THE CONSOLIDATED

BALANCE SHEET

48 Classification of financial assets and financial

liabilities

  1. Financial assets and financial liabilities measured at
    FVTPL
  2. Financial assets measured at FVOCI
  3. Property, equipment and leases

54 Goodwill and intangible assets

  1. Financial liabilities designated at fair value
  2. Debt issued
  1. Deferred tax assets
  2. Deferred tax liabilities
  3. Provisions
  1. Other assets
  1. Other liabilities
  1. Share capital
  2. ADDITIONAL INFORMATION
  1. Earnings per share and shares outstanding
  2. Reporting by segment
  3. Pension plans
  1. Securities lending and borrowing transactions
  2. Derivative financial instruments

79 Financial instruments - Fair values

  1. Financial instruments - Fair value determination
  1. Financial instruments - Expected credit losses
  1. Financial instruments - Credit risk analysis
  2. Financial instruments - Collateral analysis
  3. Financial instruments - Offsetting
  4. Market risk measures
  1. Interest rate risk measures
  1. Companies consolidated
  1. Investments in associates
  1. Unconsolidated structured entities
  2. Acquisitions and disposals
  1. Share-basedpayments and other compensation plans
  1. Assets under management
  1. Requirements of Swiss banking law
  1. Events after the balance sheet date

FINANCIAL STATEMENTS JULIUS BAER GROUP 2020

Consolidated financial statements

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED INCOME STATEMENT

Note

2020

2019

Change

CHF m

CHF m

%

Interest income on financial instruments

825.2

1,293.1

-36.2

measured at amortised cost or FVOCI

Interest expense on financial instruments

203.5

500.9

-59.4

measured at amortised cost

Net interest income

1

621.7

792.2

-21.5

Commission and fee income

2,250.1

2,139.6

5.2

Commission expense

235.1

216.6

8.5

Net commission and fee income

2

2,015.0

1,922.9

4.8

Net income from financial instruments measured at FVTPL

3

943.5

618.1

52.6

Net credit losses/(recoveries) on financial assets

35.5

9.2

-

Other ordinary results

4

38.4

58.7

-34.6

Operating income

3,583.1

3,382.9

5.9

Personnel expenses

5

1,595.5

1,616.2

-1.3

General expenses

6

710.7

850.8

-16.5

Depreciation of property and equipment

11

100.5

100.0

0.5

Amortisation and impairment of customer relationships

12

70.1

81.2

-13.7

Amortisation and impairment of intangible assets

12

260.4

168.5

54.6

Operating expenses

2,737.2

2,816.7

-2.8

Profit before taxes

845.9

566.2

49.4

Income taxes

7

147.3

101.2

45.5

Net profit

698.6

465.0

50.2

Attributable to:

698.0

Shareholders of Julius Baer Group Ltd.

464.8

50.2

Non-controlling interests

0.6

0.2

-

698.6

465.0

50.2

Note

2020

2019

Change

Share information

CHF

CHF

%

Basic earnings per share (EPS)

20

3.25

2.14

51.5

Diluted earnings per share (EPS)

20

3.23

2.12

52.2

2

FINANCIAL STATEMENTS JULIUS BAER GROUP 2020

Consolidated financial statements

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

2020

2019

CHF m

CHF m

Net profit recognised in the income statement

698.6

465.0

Other comprehensive income (net of taxes):

Items that may be reclassified to the income statement

Net unrealised gains/(losses) on debt instruments measured at FVOCI

105.7

108.6

Net realised (gains)/losses on debt instruments

-15.5

-9.4

measured at FVOCI reclassified to the income statement

Net credit losses on debt instruments measured at FVOCI

0.5

-0.8

Translation differences

-165.6

-52.8

Realised (gains)/losses on translation differences reclassified to the income statement

2.5

-0.2

Items that will not be reclassified to the income statement

Net unrealised gains/(losses) on equity instruments designated at FVOCI

-11.6

66.6

Gains/(losses) from own credit risk on

-3.9

0.0

financial liabilities designated at fair value

Remeasurement of defined benefit obligation

21.0

-74.7

Other comprehensive income

-66.8

37.2

Total comprehensive income

631.8

502.2

Attributable to:

631.2

Shareholders of Julius Baer Group Ltd.

502.0

Non-controlling interests

0.6

0.2

631.8

502.2

3

FINANCIAL STATEMENTS JULIUS BAER GROUP 2020

Consolidated financial statements

CONSOLIDATED BALANCE SHEET

Note

31.12.2020

31.12.2019

Assets

CHF m

CHF m

Cash

14,544.4

10,097.0

Due from banks

7,349.9

7,082.5

Loans

27

47,207.6

48,427.3

Financial assets measured at FVTPL

9/26

13,429.8

13,776.2

Derivative financial instruments

25

2,562.3

1,630.7

Financial assets designated at fair value

26

269.6

305.0

Financial assets measured at FVOCI

10/27

13,796.4

13,166.2

Investments in associates

30

21.2

23.3

Property and equipment

11

580.5

612.9

Goodwill and other intangible assets

12

2,637.4

2,866.1

Accrued income and prepaid expenses

363.7

397.0

Deferred tax assets

16

20.1

16.4

Other assets

18

6,354.1

3,634.5

Total assets

109,137.0

102,035.2

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

Julius Bär Gruppe AG published this content on 01 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2021 06:11:01 UTC.