EFG posts record profit and beats net new money target

EFG International delivered a record net profit of CHF 221.2m in the first half of the year, it announced today.

The figure was a 36% increase year on year, boosted by a CHF 45.4m net contribution from an insurance settlement in May. Without the addition, profit was CHF 175.8m, a rise of 8%.

There were CHF 5.4bn of net new assets in the first six months of the year. At an annualised growth rate of 6.5%, this is higher than EFG’s target of 4-6%.