Julius Baer Group net profit rises sharply

Australian dollars in Sydney, Friday, Jan. 15, 2016. (AAP Image/Joel Carrett) NO ARCHIVING

Julius Baer Group AG (BAER.EB) said Monday that its net profit rose significantly in the first half of the year as assets under management rose from a year earlier.

Net profit increased roughly 26% compared with the same period last year to 443.8 million Swiss francs ($446.9 million), the Swiss bank said.

Assets under management stood at CHF399.9 billion, from CHF354.7 billion in the same period last year, with net new money of CHF9.9 billion.

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