Swiss private banking giant Julius Baer reported first-half 2026 net new money of 5.7 billion Swiss francs, beating market expectations. After a sluggish start to the year, inflows recovered, rising 2.2 percent on an annualised basis. However, the bank warned that its risk reduction efforts are weighing on growth and are likely to remain a drag into 2027. First-half net profit surged 128 percent year-on-year to 673 million francs.