1025 GMT - EFG International's acquisition of its smaller peer Cite Gestion shows that the Swiss private bank is managing its attractive surplus capital well, Citi says in a research note. There is a lot to like in the company's results given the strong assets under management, analysts write. "EFG continues to deliver against strategic goals, which should continue to reassure investors," they note. The bank didn't announce extra cost savings on top of its 60 million Swiss franc plan. This could have a negative readacross to peer Julius Baer, which peer hired a similar proportion of client relationship officers and back-office staff in 2023 and is expected to announce additional savings at its investor day later this year. EFG shares rise 1.4% while Julius Baer's fall 1.2%. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 05:25 ET (10:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。