Julius Baer is seeking to buyback a total of about $524 million of its shares, Reuters reports. Its tier one capital ratio will drop from 23.8% to about 20%, even after the maximum buy-back, adds Financial Times.
The Swiss private bank will also raise its dividend by returning excess capital to investors after an unsuccessful acquisition hunt. The lender has increased net profit by 6% and attracted $9.4 billion of net new money in 2010.
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