EFG International AG

Latest Results (21.11.2025):

EFG International AG — first half (H1) 2025 results: the bank reported a record IFRS net profit of CHF 221.2 million for H1 2025, driven by higher operating income (CHF 853.9 million, +15% YoY) and an insurance recovery of CHF 45.4 million; underlying net profit excluding that recovery was CHF 175.8 million (up 8% YoY). Assets under management stood at CHF 162.3 billion at 30 June 2025 (pro‑forma including announced acquisitions ~CHF 173 billion), with strong net new assets of CHF 5.4 billion (annualised growth 6.5%). Capital and liquidity remained robust (CET1 ~17.1%, LCR 255%).

Profitability

IFRS net profit: CHF 221.2m in H1 2025 (record). Excluding the CHF 45.4m insurance recovery, underlying net profit was CHF 175.8m (an 8% increase versus H1 2024).

Income and expenses

Operating income rose to CHF 853.9m (+15% YoY), supported by higher client trading activity and mandate penetration; operating expenses increased modestly to CHF 573.6m (+4% YoY).

Cost efficiency

Cost/income ratio improved to 66.7% in H1 2025 (versus 72.6% in H1 2024); excluding the insurance recovery the cost/income was 71.2%.

Assets under management and flows

AUM at 30 June 2025: CHF 162.3bn (down ~2% from end‑2024 mainly due to USD depreciation); net new assets were CHF 5.4bn in H1 2025 (annualised growth 6.5%, above the 4–6% target range).

Revenue metrics and one‑offs

Reported revenue margin was 104 bps for H1 2025; excluding the insurance recovery the margin was 97 bps. The insurance settlement contributed CHF 45.4m to H1 profit.

Capital and liquidity

CET1 ratio around 17.1% at end‑June 2025, Total regulatory capital ~CHF 2.0bn, and LCR approximately 255%, indicating a strong capital‑liquidity position well above regulatory minima.

Strategic actions and M&A

EFG continued de‑risking (divestment of synthetic life exposure and sale of c.22% of directly held life policies) and completed acquisitions announced in H1 (Cité Gestion ~CHF 7.5bn AuM; ISG Auckland ~CHF 3.4bn AuM), lifting pro‑forma AUM to ~CHF 173bn.

Outlook

Management noted caution on the mid‑term market outlook but reiterated focus on clients, disciplined cost management and capital deployment for value‑accretive deals; an Investor Day is planned for 25 November 2025.