Swiss bank Julius Baer is facing substantial credit losses. This follows financing for real estate projects connected to Germany’s now-insolvent Degag Group. The bank has filed claims for 48 million euros. This amount surpasses its 2023 profit in Germany. The situation is a setback for Julius Baer, which previously reported losses on loans to the collapsed property company Signa.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets