EFG International ( (EFGXY) ) has released its Q4 earnings. Here is a breakdown of the information EFG International presented to its investors.
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EFG International is a global private banking and asset management group headquartered in Zurich, with operations in over 40 locations worldwide, known for its strong client relationship focus and strategic growth initiatives.
In its latest earnings report for 2024, EFG International announced a record net profit of CHF 321.6 million, marking a 6% increase from the previous year. The company also reported net new assets of CHF 10.1 billion, surpassing its target range and demonstrating strong growth momentum.
Key financial highlights include a 16% increase in Assets under Management, reaching CHF 165.5 billion, and an improved cost/income ratio of 72.9%. EFG also announced the acquisition of the Swiss private bank Cité Gestion, which is expected to enhance its market presence. The company proposed its highest dividend ever, at CHF 0.60 per share, emphasizing its commitment to shareholder value.
Looking ahead, EFG International is confident in exceeding its strategic goals for 2025, driven by a resilient business model and strategic investments aimed at further enhancing growth and operational efficiency. The company plans to continue its transformation efforts to optimize processes and enhance the client experience.