EFG International: 10M25: Record net profit of approximately CHF 320 million¹ and net new assets of CHF 9.3 billion Dienstag, 25. November 2025 - 06:54

10M25: Record net profit of approximately CHF 320 million¹ and net new assets of CHF 9.3 billion

• Net profit totalled approximately CHF 320 million¹ in 10M25, including a CHF 45 million net contribution from previously announced insurance recovery (10M24: net profit in excess of CHF 260 million)
• Annualised return on tangible equity² was approximately 21.5%, exceeding EFG’s target range of 15-18% 
• Net new assets totalled CHF 9.3 billion, corresponding to an annualised growth rate of 6.8%, exceeding EFG’s target range of 4-6%
• Assets under Management totalled approximately CHF 183.7 billion at end-October 2025 (end-June 2025: CHF 162.3 billion), reaching the highest level ever at EFG; this reflects strong net new assets and the first-time consolidation of Cité Gestion and Investment Services Group (ISG)
• Revenue margin was 99 basis points for 10M25 compared to 104 basis points in 1H25 and 96 basis points for FY24
• Cost/income ratio was 69.0% for 10M25, compared to 66.7% in 1H25 and 72.9%³ in FY24. The cost/income ratio includes the impact of the acquisitions closed in June and October 2025
• 71 Client Relationship Officers (CROs) hired, signed or under offer in 10M25, excluding CROs from Cité Gestion and ISG
• Strong capital and liquidity position, with a CET1 Ratio of 15.6%, a Total Capital Ratio of 19.1% and a Liquidity Coverage Ratio of approximately 219% at end-October 2025

Giorgio Pradelli, CEO of EFG International:
"We have consistently delivered against our 2025 financial targets and are exceeding our 2025 ambition. In the first ten months of the year, we once again generated a record net profit and we have maintained our strong business momentum through the second half of 2025. Our strong organic growth was complemented by the strategic acquisitions of Cité Gestion and ISG which added more than CHF 10 billion to our Assets under Management. 

Supported by our resilient and well diversified topline and thanks to our disciplined approach to cost, we have consistently generated operating leverage and have built scale by achieving our highest-ever Assets under Management. We are entering the new 2026-2028 strategic cycle from a position of strength."

Continued strong growth momentum above target range with net new assets of CHF 9.3 billion
Net new assets totalled CHF 9.3 billion for 10M25, corresponding to an annualised net new asset growth rate of 6.8%, exceeding EFG’s target range of 4 6%. The contribution to net new assets from new CROs and existing CROs was balanced, with new CROs accounting for approximately 60% of net new assets. All of EFG’s business regions recorded net inflows during the reporting period, with both the Latin America and Asia regions posting once again double-digit growth rates.

Revenue-generating Assets under Management totalled approximately CHF 183.7 billion at end-October 2025, the highest level ever at EFG, compared to CHF 165.5 billion at end-2024 and CHF 162.3 billion at end-June 2025. The increase compared to end-2024 was driven by strong net new assets, favourable market performance and the first-time consolidation of Assets under Management from Cité Gestion and ISG, which more than offset the negative impacts of foreign exchange fluctuations. Foreign exchange fluctuations had no significant impact on Assets under Management in the months from July to October as the US dollar largely stabilised. 

Strong profitability on the back of operating leverage and contribution from insurance recovery
In 10M25, EFG recorded a record net profit of approximately CHF 320 million; the annualised return on tangible equity was approximately 21.5%. Excluding the one-time contribution of CHF 45 million from insurance recovery, net profit was around CHF 275 million and the annualised return on equity was approximately 18.7%. This compares to a net profit in excess of CHF 260 million and a return on tangible equity of 18.5% for 10M24.

Operating income increased by approximately 8% in 10M25 (excluding insurance recovery) compared to the same period of 2024, once again demonstrating the benefits of EFG’s well diversified revenue streams which support top line performance. Reflecting the previously announced net contribution from insurance recovery, operating income increased by approximately 12%.

Revenue performance in 10M25 was driven by a double-digit percentage increase in net banking and commission income and net other income. This development reflects higher average revenue-generating Assets under Management, stronger levels of client activity, the positive impact from hedging the P&L against currency fluctuations in 2025, the contribution from insurance recovery as well as a significant increase in mandate penetration to around 67% in the reporting period compared to 62% for 2024 (target range of 65%-70% by end-2025).

In contrast, market conditions led to a decrease of approximately 7% in interest-related income (net interest income and treasury swap income) in 10M25 compared to the same period of last year. This development reflects the impact from reduced interest rates across major currencies.

The revenue margin in the reporting period was 99 basis points (104 basis points for 1H25 and 96 basis points for FY24). Excluding the contribution from insurance recovery, the revenue margin was 95 basis points in 10M25, compared to 97 basis points in 1H25 and 96 basis points in 10M24. More specifically, in the period July to October 2025, following the typically slower summer months, EFG experienced a notable pick up in revenue margin for September and October. At the same time, the life insurance portfolio had a more limited contribution to revenues in the last four months, compared to a contribution of 2 basis points in 1H25, as this portfolio is now smaller in size following the de-risking actions implemented in 1H25 and is in wind-down mode. 

EFG’s operating expenses increased by approximately 4% in 10M25 compared to the same period of 2024. In 10M25, the cost/income ratio was 69.0% (71.8% excluding insurance recovery), compared to 66.7% (71.2% excluding insurance recovery) in 1H25 and 72.9%³ for 2024. This includes expenses related to the acquisitions of Cité Gestion and ISG, where synergies have not yet been realised.
EFG maintains a very disciplined approach to cost management and will continue to focus on enhancing operational efficiency. EFG expects to deliver the previously announced annual cost savings of CHF 66 million (initial target: CHF 60 million) for the period from 2023 to 2025 compared to its 2021 cost base by the end of this year. 

Continued hiring momentum to drive future organic growth
In 10M25, 71 new CROs either joined or agreed to join EFG; this compares with EFG’s ambition to hire an average of 50-70 CROs per year (excluding acquisitions) and reflects its attractiveness as an employer.

Over and above, 54 CROs have joined as a result of the acquisition of Cité Gestion and 17 CROs from Investment Services Group.

At end-October 2025, EFG’s total number of CROs worldwide was 761, compared to 694 CROs at end-June 2025.

Strong capital and liquidity position
In 10M25, EFG maintained its strong capital and liquidity position. As of end-October 2025, EFG’s Common Equity Tier 1 (CET1) Ratio was 15.6%, compared to 17.7% at end-2024. EFG’s Total Capital Ratio was 19.1%, compared to 21.5% at end-2024. The decrease was driven by the acquisition of Cité Gestion and ISG and the implementation of Basel III final in January 2025.

The Liquidity Coverage Ratio was approximately 219%, compared to 242% at end-2024.

Financial calendar
18 February 2026: Full-year 2025 financial results
20 March 2026: Annual General Meeting 2026

1 All financial figures in this media release are unaudited.
2 Alternative performance measures and Reconciliations: This media release and other communications to investors contain certain financial measures of historical and future performance and financial position that are not defined or specified by IFRS, such as "net new assets", "Assets under Management", "operating profit", "cost/income ratio", “Liquidity Coverage Ratio”, “Loan/deposit Ratio”. These alternative performance measures (APM) should be regarded as complementary information to, and not as a substitute for the IFRS performance measures. The definitions of APM used in this media release and other communications to investors, together with reconciliations to the most directly reconcilable IFRS line items, are provided in the section headed "Alternative performance measures" in the Half-year Report 2025 available at http://www.efginternational.com/half-year-report-2025.
3 Excludes CHF 5.0 million of depreciation expenses related to tangible assets previously classified as held for sale related to prior years. See alternative performance measures.