Reported net profit attributable to shareholders increased from CHF121m for 2015 to CHF619m for 2016. However, underlying net profit increased (which excludes a CHF521m US litigation provision for FY2015) only by 1% to CHF706m for 2016 compared to 2015 according to Julius Baer. Net interest and dividend income rose by 23% to CHF877m in 2016. Net commission and fee income was up by 3% to CHF1.56bn for 2016. Trading income declined by 24% to CHF333m in the same period. Operating income rose by
01 Feb 2017
Strongly improved profit as expected but also a worrying staff cost increase
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Strongly improved profit as expected but also a worrying staff cost increase
Reported net profit attributable to shareholders increased from CHF121m for 2015 to CHF619m for 2016. However, underlying net profit increased (which excludes a CHF521m US litigation provision for FY2015) only by 1% to CHF706m for 2016 compared to 2015 according to Julius Baer. Net interest and dividend income rose by 23% to CHF877m in 2016. Net commission and fee income was up by 3% to CHF1.56bn for 2016. Trading income declined by 24% to CHF333m in the same period. Operating income rose by