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Julius Baer’s shares fall after bank misses share buyback expectations
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fnlondon.comShares in Julius Baer Gruppe fell on 2 February after the lender launched a smaller-than-expected share buyback program and incurred higher costs for 2021, despite also reporting the record levels of net profit.
The Swiss bank's adjusted operating costs rose 2% to 2.53 billion Swiss francs ($2.75bn) on provisions and losses, which were higher than expected, Jefferies said. Excluding provisions and losses, adjusted operating expenses grew by 3% to CHF2.46bn.
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