Swiss private bank Julius Baer had previously indicated it anticipated its first-half net profit would significantly exceed the level achieved in the same period last year.

Driven by an expansion in assets under management and increased client activity, Julius Baer has reported a record high net profit for the first half of the year.

The Zurich-based private bank disclosed a first-half net profit of 673 million Swiss francs (equivalent to $830.6 million), more than doubling the 295 million francs reported a year ago and setting a new record.

Group operating income surged by 26% year-on-year to 2.28 billion Swiss francs. The financial results stated that the growth was primarily driven by an increase in net commission and fee income, which rose by 12% to 1.28 billion Swiss francs.

As of June 30th, the company's assets under management grew to 546.7 billion Swiss francs from 521 billion at the end of last year, reaching a new historical peak.

Julius Baer had previously forecast that the first half started strongly and, with the absence this year of the significant one-off loss that impacted profitability in 2025, net profit would be substantially higher than the prior year period.