ZURICH: Julius Baer on Wednesday posted a 55% rise in 2021 net profit, as client trading and a rise in fees it generates from manging money helped generate record earnings.

Net profit for the year rose to 1.083 billion Swiss francs ($1.18 billion) from 699 millon francs in 2000.

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Switzerland's third-largest listed bank said it would propose an increased dividend of 2.60 francs per share, as compared to the 1.75 francs it paid out for 2020. It also announced a new share buy-back programme of up to 400 million francs.