J Safra Sarasin Group- a Swiss headquartered private bank – has reported a 6.9 percent increase in its 2023 profits.

Group net profit rose from CHF 470.3 million to CHF 440.2 million a year earlier, its annual report states.

This was supported by a 20.4 percent increase in operating income from CHF 1.4 billion to CHF 1.7 billion.

Operating expenses grew 6.5 percent from CHF 753.2 million to CHF 801.9 million.

Assets under management (AUM) increas...