Advertisement
Singapore markets close in 1 hour 11 minutes

  • Straits Times Index

    3,431.63
    +1.18 (+0.03%)
     

  • Nikkei

    37,667.41
    -202.10 (-0.53%)
     

  • Hang Seng

    17,038.37
    +33.40 (+0.20%)
     

  • FTSE 100

    8,231.83
    +45.48 (+0.56%)
     

  • Bitcoin USD

    66,981.12
    +2,788.88 (+4.34%)
     

  • CMC Crypto 200

    1,361.20
    +30.59 (+2.30%)
     

  • S&P 500

    5,399.22
    -27.91 (-0.51%)
     

  • Dow

    39,935.07
    +81.20 (+0.20%)
     

  • Nasdaq

    17,181.72
    -160.69 (-0.93%)
     

  • Gold

    2,367.30
    +13.80 (+0.59%)
     

  • Crude Oil

    78.19
    -0.09 (-0.11%)
     

  • 10-Yr Bond

    4.2560
    -0.0300 (-0.70%)
     

  • FTSE Bursa Malaysia

    1,615.85
    +0.67 (+0.04%)
     

  • Jakarta Composite Index

    7,272.91
    +32.63 (+0.45%)
     

  • PSE Index

    6,726.01
    +55.74 (+0.84%)
     

Julius Baer set to announce writeoff linked to Signa exposure - SonntagsZeitung

Reuters
·1-min read
A logo is pictured on the branch of the Swiss private bank Julius Baer in Lausanne

GENEVA (Reuters) - Wealth manager Julius Baer is set to announce a writeoff related to its exposure to property group Signa that may be around 400 million Swiss francs ($463 million), Swiss newspaper SonntagsZeitung said on Sunday.

Fears over the bank's ties to property and retail group Signa, whose holding company filed for insolvency in November, has already affected its share price in recent months.

One analyst had previously estimated the bank's losses in relation to Signa, controlled by Austrian magnate Rene Benko, at around 400 million Swiss francs.

The bank declined to comment. The newspaper said the writedown would be announced on Thursday.

Julius Baer has said in the past that it had exposure of 606 million Swiss francs - the largest in its private debt loan book - to a European conglomerate.

($1 = 0.8644 Swiss francs)

(Reporting by Emma Farge and Oliver Hirt; Editing by)