Bank J Safra Sarasin Group Logs Profit, AuM Rise

Tom Burroughes

1 March 2022

Switzerland-based yesterday reported a 5.7 per cent year-on-year rise in net profit, reaching SFr423.2 million ($461.1 million).

Assets under management grew by 16.8 per cent to SFr224.7 billion, with net new assets of SFr15.0 billion, the bank said in a statement.

The group said it had a “strong balance sheet” of SFr42.3 billion with liquid assets of SFr8.8 billion at the end of 2021.

The Common Equity Tier 1 figure – a standard international measure of a bank’s capital buffer – was SFr5.7 billion, rising from SFr5.4 billion at the end of 2020, equating to a CET1 ratio of 38.7 per cent, well over international and domestic Swiss rule requirements.

“We are delighted with the performance of the group in 2021, particularly the growth in net new assets,” Jacob J Safra, chairman of the group, said.