ZURICH, Feb 2 (Reuters) - Swiss bank Julius Baer on Monday reported a net profit of 764 million ‌Swiss francs ($988 million) for 2025, down ​25% from 2024, but slightly ‍above a consensus ⁠expectation of ⁠679 million francs.

Assets under management grew ‌by 5% to ​521 billion francs, the bank said, with net ⁠new money ‍of ​14.4 billion francs matching a Zuercher Kantonalbank forecast.

These inflows and ‍rising global equity market valuations more than offset the impact of the stronger Swiss franc, Julius Baer ​said.

The ‍bank did not announce any further writedowns after CEO ​Stefan Bollinger had to announce a series of negative surprises in 2025, his first year in office.

"All in all, 2025 ​was a successful transition year," Bollinger said.

($1 = 0.7730 Swiss francs)