EFG International, the Zurich-based private bank, reported a modest increase in net profits for the full year. The bank saw a 1% rise, with net profits reaching 325.2 million Swiss francs ($421.95 million). However, this result was tempered by a 60 million Swiss francs litigation provision recorded in December 2025. EFG International provides private banking and asset management services, focusing on wealth management and investment solutions for private clients.
According to Chief Executive Giorgio Pradelli, the legal fee stems from a UK court case involving EFG and other asset managers. They stand accused of laundering bribes related to Kuwait’s public pension fund. The trial commenced in March 2025. A previously disclosed one-off gain of 45.4 million Swiss francs from an insurance recovery partially offset the impact of the legal provision.
Analysts at Vontobel bank noted the unexpected nature of the fee. Shares of EFG International were down 1.37 percent in Swiss pre-market indications. Despite the legal challenges, EFG’s net new assets for 2025 totalled 11.3 billion francs, representing a growth rate of 6.8%. This marks the highest level of net new assets since the global financial crisis.
Assets under management reached an all-time high of 185 billion Swiss francs, driven by acquisitions. In February 2025, EFG acquired Cité Gestion, a Geneva-based private bank. In January 2026, they announced the acquisition of Quilvest Switzerland, another Swiss private bank. EFG has stated it will continue to pursue mergers and acquisition opportunities in 2026.
