Julius Baer Effects Capital Reduction
Following the completion of its share buyback program, Julius Baer takes the final step.
Swiss private bank Julius Baer completed the capital reduction plan it announced in April by canceling a total of 7,423,208 shares, effective June 27, the bank said in a statement Tuesday.
The shares were repurchased through December 23 as part of a buyback program launched last year, reducing the registered shares to 213,801,240.
Julius Baer now has a registered share capital of 4,276,025 Swiss francs ($4.26 million), with a par value of 0.02 francs each.
Further Buybacks
As part of its 2024 strategic plan, the bank announced further buybacks, to exceed a core capital ratio of 14 percent through annual share buybacks. This was a clear commitment in the plan, along with maintaining a 50 percent dividend payout ratio.
