The reported net profit was down by 78% to CHF40m for H1 15 compared to H1 14. However, underlying net profit increased (which excludes a CHF326m US litigation provision) by 34% to CHF384m for H1 15 compared to the same period last year according to Julius Baer. Interest and dividend income rose by 11% to CHF384m in H1 15. Net commission and fee income increased by 6% to CHF792m for H1 15. Trading income was up by 89% to CHF217m in the same period. Operating income rose by 14% to CHF1.41bn fo
20 Jul 2015
No loss for H1 15 despite US tax evasion provision
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No loss for H1 15 despite US tax evasion provision
The reported net profit was down by 78% to CHF40m for H1 15 compared to H1 14. However, underlying net profit increased (which excludes a CHF326m US litigation provision) by 34% to CHF384m for H1 15 compared to the same period last year according to Julius Baer. Interest and dividend income rose by 11% to CHF384m in H1 15. Net commission and fee income increased by 6% to CHF792m for H1 15. Trading income was up by 89% to CHF217m in the same period. Operating income rose by 14% to CHF1.41bn fo