Private banking group EFG International shook off the impact of low interest rates in 2020, producing a 23 percent increase in its pre-tax profit for the year.
The 2020 pre-tax profit came in at CHF 152.3 million, up from CHF 123.4 million in 2019.
This was largely a result of stricter cost control. Revenue fell 3 percent to CHF 1.13 billion as lower interest and ‘other’ income was partially offset by a CHF 62.7 million increase in fees and commissions.
Operatin...
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