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EFG 2020 results: Demonstrating our operational and financial resilience and accelerating our profitable growth momentum

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EFG 2020 results: Demonstrating our operational and financial resilience and accelerating our profitable growth momentum

In a year of unprecedented challenges, against the backdrop of the coronavirus pandemic, EFG continued to execute its 2022 strategic plan and significantly grew its business with a marked acceleration in profitability, especially in the second half of the year.

Marketing & Communications
Marketing & Communications
  • EFG accelerated its growth momentum with its strongest net new asset inflows in a decade of CHF 8.4 billion for the full year, corresponding to a growth rate of 5.5%.
  • Assets under Management increased to CHF 158.8 billion from CHF 153.8 billion at end-2019, as strong asset inflows and positive market effects offset adverse foreign exchange impacts.
  • IFRS net profit increased by 22.4% to CHF 115.3 million.
  • Strong acceleration of profitability in 2H20, as effects from revenue and cost management measures materialised. Net profit more than doubled compared to the first half of 2020 and underlying cost/income ratio improved to 78.2%.
  • EFG continues to rationalise its footprint and optimise the operational set-up of its eight core offshore booking centres.
  • EFG maintained strong capital and liquidity positions, with a Swiss GAAP CET1 ratio of 16.2%, Total Capital Ratio of 19.9% and an Liquidity Coverage Ratio of 188%. In January 2021, EFG further strengthened its capital position as it successfully placed USD 400 million of Additional Tier 1 Notes and bought back approximately 50% of outstanding Tier 2 Notes.
  • Proposed dividend of CHF 0.30 per share, unchanged from last year.

For more information on some of the key highlights, watch the video interview with our Chief Executive Officer, Giorgio Pradelli.