Julius Baer Gruppe Namen (JBARF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Julius Baer 2026 half-year results presentation for analysts and investors. I am Sandra, the course co-operator. I would like to remind you that all participants have been listened only mode and the conference has been recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, please press star and zero. Please go ahead, sir. Good morning, everyone. Welcome to the Julius Baer half-year results call. I am Alex van Leeuwen, head of investor relations. We are joined today by our CEO, Stefan Bollinger, and CFO, Evi Kostakis. Before starting, I would like to flag the important information provided on slide two of the presentation. It is now my pleasure to hand over to Stefan for his introductory remarks. Thank you, Alex. Good morning, everyone. And thank you for dialing in today. Let me start by giving you my take on our half year results. It has been an intense but highly productive first half for Julius Baer. Overall, we delivered a very strong operating performance, which was driven by exceptional client activity, especially in the first quarter. The results also reflect the depth and breadth of our capabilities and the ability of our team to help clients navigate complex markets and capture opportunities. Now, let's have a look at the figures. Asset under management reached 547 billion Swiss francs, up 5% year to date, the highest level in our history. Net new money amounted to a solid 5.7 billion, which we achieved despite the ongoing implementation of our revised risk and compliance framework. We generated a record half-year net profit of 673 million, a like-for-like increase of 32% year-on-year. Our gross margin exp...