Latest news with #creditportfolio
Yahoo
21-05-2025
- Business
- Yahoo
CEO: Julius Baer does not expect additional major losses after $156 million writedown
(Reuters) -Julius Baer does not expect additional major credit losses, CEO Stefan Bollinger said on Wednesday, after the Swiss bank revealed a net charge of 130 million Swiss francs ($156.36 million) in a review of its credit portfolio. "While the review is ongoing, based on our findings to date, we do not expect to uncover additional material idiosyncratic risks that could lead to significant credit losses," Bollinger said. Sign in to access your portfolio
Reuters
20-05-2025
- Business
- Reuters
Julius Baer flags $156 million credit portfolio charge
ZURICH, May 20 (Reuters) - A review of Julius Baer's (BAER.S), opens new tab credit portfolio had saddled it with a net charge of 130 million Swiss francs ($156.36 million), the Swiss bank said on Tuesday as it announced it was replacing its chief risk officer. The financial hit follows losses of 586 million Swiss francs ($705.43 million) announced early last year, which led to a management shake-up. The bank revealed the credit charge as part of an interim management statement for the first four months of 2025. Julius Baer said it had registered net new money inflows of 4.2 billion francs and that it now had assets under management of 467 billion francs, reflecting a stronger franc and the sale of its Brazilian wealth management business. Ivan Ivanic will replace Oliver Bartholet as chief risk officer, the bank said. ($1 = 0.8314 Swiss francs)
Bloomberg
20-05-2025
- Business
- Bloomberg
Julius Baer Faces $156 Million Loan Loss Charge
Julius Baer Group Ltd. is facing another large loss from property developments it helped finance, just as the Swiss wealth manager is emerging from a crisis triggered by its exposure to Rene Benko's Signa real estate empire. As part of a review of its credit portfolio, Baer is discussing writing down a loan related to a real estate project in the German city of Hanover that is on the cusp of default and is also facing a loss from another development, according to people familiar with the matter. Full impairments of those projects are expected to contribute to a loan loss charge of about 130 million Swiss francs ($156 million), said the people, asking not to be identified because the information is private.
Bloomberg
08-05-2025
- Business
- Bloomberg
Private Equity Firms Send Some Lenders to the Back of the Queue
Hi, it's Reshmi Basu in New York, reporting on how some lenders to private equity firms are getting bumped to the back of the queue. Also today, Abu Dhabi wealth fund Mubadala builds a $20 billion private credit portfolio. Today's top stories
Bloomberg
07-05-2025
- Business
- Bloomberg
MercadoLibre Tops Estimates With ‘Stellar' Argentina Rebound
E-commerce and fintech giant MercadoLibre Inc. beat analysts' expectations in the first quarter of the year, delivering strong growth in its credit portfolio while its Argentina division saw a boost as the country removed trade barriers and scrapped currency controls. Revenue in the three months through March rose 37% from a year earlier to $5.9 billion, topping the $5.5 billion median estimate in a Bloomberg survey. Net income at $494 million and operating income also came in stronger than expected.
