Arab Today, arab today swiss bank julius baer deal done with us on taxdodging case
Last Updated : GMT 18:42:12
Arab Today, arab today
Arab Today, arab today

Swiss bank Julius Baer deal done with US on tax-dodging case

Arab Today, arab today

Arab Today, arab today Swiss bank Julius Baer deal done with US on tax-dodging case

The headquarters of Swiss bank Julius Baer
Zurich - AFP

Swiss private bank Julius Baer said Friday it had finalised an agreement with US authorities, paying $547 million to end a criminal investigation into claims that it helped rich Americans dodge taxes.

"Being able to close this regrettable legacy issue is an important milestone for Julius Baer," chief executive Boris Collardi said in a statement.

"The settlement ends a long period of uncertainty for us and... allows us now to again fully focus on the future and our business activities," he added.

The bank had already fully booked provisions for the fine, which sent its 2015 net profit down by 67 percent to 121.2 million Swiss francs (109 million euros, $122 million) last year.

If it had not had to book the provision for the US fine, Julius Baer said profits would have grown last year by a fifth to just over 700 million Swiss francs.

Julius Baer was among around a dozen Swiss banks placed under criminal investigation by the US Justice Department, including the country's second largest bank Credit Suisse, which was slapped with a $2.8-billion fine.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss bank julius baer deal done with us on taxdodging case Arab Today, arab today swiss bank julius baer deal done with us on taxdodging case

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday