Julius Bär Gruppe : 2023 Half-year Report (Financial Statements IFRS) Bank Julius Baer & Co. Ltd



HALF-YEAR

REPORT 2023

Bank Julius Baer & Co. Ltd.



Half-Year Report 2023 Bank Julius Bear & Co. Ltd.

Contents

4

Consolidated income statement

5

Consolidated statement of comprehensive income

6

Consolidated balance sheet

8

Consolidated statement of changes in equity

10

Consolidated statement of cash flows

14

Notes to the consolidated financial statements

29

Capital ratios

3

Half-Year Report 2023 Bank Julius Bear & Co. Ltd.

Consolidated income statement

	Note	H1 2023	H1 2022	H2 2022
	CHF m	CHF m	CHF m
Interest income on financial instruments		1,063.8	397.5	730.9
measured at amortised cost or FVOCI
Interest expense on financial instruments		698.5	88.6	308.8
measured at amortised cost
Net interest income	1	365.3	308.9	422.1
Commission and fee income		879.8	957.8	842.9
Commission expense		235.9	269.1	239.9
Net commission and fee income	2	643.9	688.7	603.0
Net income from financial instruments		551.3	418.2	523.3
measured at FVTPL
Net credit losses/(recoveries) on financial assets		1.4	10.9	10.2
Other ordinary results		51.8	45.5	49.7
Operating income		1,610.9	1,450.4	1,587.9
Personnel expenses	3	649.0	607.3	636.6
General expenses	4	332.3	389.6	374.4
Depreciation of property and equipment		35.7	31.4	34.4
Amortisation of customer relationships		3.7	12.5	9.4
Amortisation and impairment of intangible assets		56.0	46.9	57.9
Operating expenses		1,076.7	1,087.7	1,112.7
Profit before taxes		534.2	362.7	475.2
Income taxes		81.8	42.5	67.7
Net profit		452.4	320.2	407.5
		H1 2023	H1 2022	H2 2022
Share information		CHF	CHF	CHF
Basic earnings per share (EPS)		78.68	55.69	70.87
Diluted earnings per share (EPS)		78.68	55.69	70.87

4

Half-Year Report 2023 Bank Julius Bear & Co. Ltd.

Consolidated statement of comprehensive income

	H1 2023	H1 2022	H2 2022
	CHF m	CHF m	CHF m
Net profit recognised in the income statement	452.4	320.2	407.5
Other comprehensive income (net of taxes):
Items that may be reclassified to the income statement
Net unrealised gains/(losses) on debt instruments	54.4	-433.0	-151.4
measured at FVOCI
Net realised (gains)/losses on debt instruments	0.1	-0.8	-
measured at FVOCI reclassified to the income statement
Effective portion of changes in fair value of	5.6	-36.0	-9.8
hedging instruments designated as cash flow hedges
Cost of hedging related to cash flow hedges	-1.3	-2.2	3.9
Items that will not be reclassified to the income statement
Net unrealised gains/(losses) on equity instruments	55.1	9.9	-10.5
measured at FVOCI
Net realised (gains)/losses on equity instruments	-108.8	-	-
measured at FVOCI reclassified to retained earnings
Gains/(losses) from own credit risk on	-3.3	4.5	-3.7
financial liabilities designated at fair value
Remeasurement of defined benefit obligation	-16.4	-1.9	-1.4
Other comprehensive income	-14.6	-459.5	-172.9
Total comprehensive income	437.8	-139.3	234.6
Attributable to:	437.8	-139.3	234.6
Shareholders of Bank Julius Baer & Co. Ltd.

5