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 US dollars), 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.
