Bank J. Safra Sarasin AG

euro adhoc: Bank Sarasin + Cie AG / Growth strategy shows positive effects:Record first-half result of CHF 111 million (+70%) - Net new money takes impressive leap to CHF 6.0 billion - Assets under management climb to new all-time high of CHF 84.4 bill.

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6-month report


Group result leaps 70% to CHF 111 million (1H 2006: CHF 65 million) Return on equity after tax significantly improved to 20.8% (1H 2006: 13.2%). The cost income ratio II of 60.3% (1H 2006: 67.2%) already meets the 2010 target.

Solid net new money inflow of CHF 6.0 billion from all markets The renewed focus on the core business of a private bank has been rewarded with outstanding growth in net new money inflows from private clients of CHF 4.1 billion (1H 2006: CHF 764 million).

Assets under management up 15% to CHF 84.4 billion (Y/E 2006: CHF 73.3 billion) Impressive new money growth confirms the decision to concentrate on clientele in international growth markets in the Middle East, Asia and Europe, as well as in Latin America. International clients serviced from Switzerland contributed CHF 1.6 billion in new assets, while our international locations acquired CHF 2.2 billion. Net new money from Swiss clients came to CHF 2.1 billion.

Georg F. Krayer, Chairman of the Board of Bank Sarasin & Co. Ltd: "Our growth strategy is showing positive effects: the initiatives we have taken have resulted in a strong inflow of CHF 6.0 billion in net new money from all markets and a record first-half result of CHF 111 million. With this impressive result, the new management has clearly demonstrated that it is capable of meeting our ambitious growth targets."

Joachim H. Straehle, CEO of Bank Sarasin & Co. Ltd: "The new record first-half result for Bank Sarasin bolsters our conviction that we are on the right track with the renewed focus on our core skill as a private bank and our greater emphasis on international expansion. This success is mainly down to the commitment, expertise and innovation powers of our staff. Together we shall build on this strong start and continue to vigorously pursue our 2010 targets, launching additional growth initiatives in the second half of 2007."

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ots Originaltext: Bank Sarasin + Cie AG
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Further inquiry note:
Annette Kuhnert
Corporate Communications
Tel      +41 61 277 74 29

Branche: Banking
ISIN:      CH0002267737
WKN:        872869
Index:    SPI
Börsen:  SWX Swiss Exchange / regulated dealing

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