A sign sits on a wall outside the offices of Julius Baer Group Ltd. in Geneva, Switzerland.
Valentin Flauraud | Bloomberg | Getty Images
Swiss private bank Julius Baer said on Thursday its assets under management rose 2 percent to 305 billion Swiss francs ($308.7 billion) in the first four months of the year.
In an interim management statement, Switzerland's third-largest listed bank said net new money growth was below 3 percent, outside its medium-term target of between 4 percent and 6 percent on an annualised basis.
Zurich-based Baer also announced an additional cost savings of around 50 million francs after its cost to income ratio, a key efficiency measure, for the first four months came in above its 64 percent to 68 percent target range.
