Julius Baer's Profits Plummet Amid Signa Crisis and Loan Provisions
Swiss private bank Julius Baer has issued a warning on its profits just weeks after the Signa crisis, which saw the bank's CEO, Philipp Rickenbacher, apologize for the bank's involvement in a spying scandal. The bank cited challenging market conditions and increased costs as reasons for the profit warning, and stated that it would take measures to address the situation.