EFG International AG ( (EFGIF) ) has released its Q4 earnings. Here is a breakdown of the information EFG International AG presented to its investors.
EFG International AG is a global private banking group headquartered in Zurich, Switzerland, providing private banking and asset management services across over 40 locations worldwide.
In its latest earnings report, EFG International AG announced a record net profit of CHF 321.6 million for 2024, reflecting a 6% increase year-over-year, alongside a proposed dividend of CHF 0.60 per share, the highest in the company’s history.
Key highlights from the report include a 16% increase in Assets under Management totaling CHF 165.5 billion by the end of 2024, driven by net new assets of CHF 10.1 billion, strong foreign exchange impacts, and favorable market conditions. EFG also reported an improved cost/income ratio of 72.9% and a return on tangible equity of 18.6%, surpassing its target range.
Additionally, EFG announced the acquisition of the Swiss private bank Cité Gestion, expected to close in the second half of 2025, to enhance its market presence in Switzerland. This move aligns with its strategic M&A plans and is anticipated to be earnings accretive by 2026.
Looking ahead, EFG remains confident in exceeding its strategic targets for 2025, bolstered by its diversified business model and ongoing strategic investments aimed at enhancing client experience and operational efficiency.