Julius Baer to cease charging clients negative interest rates

Zurich, 22 July 2022 Following the decision of the European Central Bank to increase the main EUR policy interest rate by 50 basis points to 0% as of 27 July 2022 and the previous increase in the CHF policy interest rate from -0.75% to -0.25% by the Swiss National Bank effective 17 June 2022, Julius Baer announces today that it will no longer charge negative interest rates on client deposits in euro, Swiss franc, and Danish krone as of 1 August 2022. In a persistent negative interest rate environment, Julius Baer has been applying negative interest rates to client cash holdings in these currencies.

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About Julius Baer

Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of April 2022, assets under management amounted to CHF 457 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.

Julius Baer is present in over 25 countries and more than 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, São Paulo, Shanghai, Singapore, Tel Aviv and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base and our entrepreneurial management culture make us the international reference in wealth management.

For more information visit our website at www.juliusbaer.com