(Reuters) - ZURICH, July 27 - Swiss wealth manager Julius Baer said it would buy back 2 billion Swiss francs of its shares after first-half net profit rose by 28 percent, in line with market expectations.
Net new money inflows into Baer's private banking unit, a key gauge of future income, were a healthy 5.3 billion francs, in a sign its recent push into fast-growing Asia was bearing fruit. The number was in line with expectations. "We have further improved the overall profitability of the group in spite of our accelerated growth initiatives," Chief Executive Officer Hans de Gier said in a statement.
Read more at Reuters.com Market News
Net new money inflows into Baer's private banking unit, a key gauge of future income, were a healthy 5.3 billion francs, in a sign its recent push into fast-growing Asia was bearing fruit. The number was in line with expectations. "We have further improved the overall profitability of the group in spite of our accelerated growth initiatives," Chief Executive Officer Hans de Gier said in a statement.
Read more at Reuters.com Market News
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