Julius Baer Full-Year Profit Drops 27%

Julius Baer Group JBAXY reported a 27% drop in its full-year net profit. Julius Baer's net profit for the period dropped to 257.9 million Swiss francs ($279.8 million), from CHF352 million, in the year-ago period. Its adjusted net profit declined 21% to CHF400.5 million, versus analysts' estimates of CHF392 million. Julius Baer shares closed at $8.20 on Friday.