Julius Baer's Profits Plummet Amid Signa Crisis and Loan Provisions
TL;DR
Swiss private bank Julius Baer has issued a warning on its profits just weeks after the Signa crisis, which saw the bank's CEO, Philipp Rickenbacher, apologize for the bank's involvement in a spying scandal. The bank cited challenging market conditions and increased costs as reasons for the profit warning, and stated that it would take measures to address the situation.
- Julius Baer warns on profits weeks after Signa crisis Financial Times
- Julius Baer Slumps as Bad Loans Revive Concerns About Signa Risk Yahoo Finance
- Julius Baer shares slide as loan provisions hit profit guidance Reuters
- Julius Baer: Benko hangover leaves bank in an Austrian bind Financial Times
- Julius Baer No Longer Such a Clear Pure Play finews.com
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