Julius Baer announced it is to make a preliminary provision of $350m for its eventual settlement with the US Department of Justice (DOJ) regarding its US tax evasion case. The litigation provision will be charged to the 2015 half-year results. The bank said, if the amount had been provisioned at the end of April 2015, the group’s BIS total capital ratio would have been 20.9% and its BIS tier 1 capital ratio 19.6%.
24 Jun 2015
$350m litigation provision in H1 15
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$350m litigation provision in H1 15
Julius Baer announced it is to make a preliminary provision of $350m for its eventual settlement with the US Department of Justice (DOJ) regarding its US tax evasion case. The litigation provision will be charged to the 2015 half-year results. The bank said, if the amount had been provisioned at the end of April 2015, the group’s BIS total capital ratio would have been 20.9% and its BIS tier 1 capital ratio 19.6%.