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Julius Bär to raise dividend as AUM rises 12% in FY'16

Julius Bär Gruppe AG reported full-year 2016 IFRS net profit attributable to shareholders of the group of CHF619.4 million, up from CHF121.2 million earned in the year-ago period.

The group noted that the 2015 results included a $547.3 million provision to settle a tax-evasion probe with the U.S. Department of Justice.

EPS for the year was CHF2.84, up from 55 centimes in 2015.

As of Dec. 31, 2016, Julius Bär's AUM totaled CHF336.2 billion, up 12.2% from a year ago. The increase of CHF36.5 billion includes market performance of CHF12.7 billion, net new money of CHF11.9 billion and a net acquisition impact of CHF11.2 billion following the first-time consolidation of Kairos Investment Management and of Commerzbank International SA Luxembourg.

Net commission and fee income for 2016 was CHF1.56 billion, up 2.8% from a year earlier, while net trading income declined 23.7% on a yearly basis to CHF332.5 million.

The bank's Basel III, phase-in common equity Tier 1 ratio was 16.4% at the end of 2016, compared to 18.3% at the end of 2015. Its total capital ratio on a phase-in basis stood at 17.5% at the end of 2016, compared to 19.4% at the end of 2015.

Meanwhile, the board intends to propose to shareholders on April 12 an increase in the ordinary dividend by 9% year over year to CHF1.20 per share.