Coincidence? Top 5 Swiss Bank’s Profits up 34% After Bitcoin Integration
Cointelegraph
Published Jul 20, 2020 07:25AM ET
Updated Jul 20, 2020 09:00AM ET
Top five Swiss bank Julius Baer Group (OTC:JBAXY), which manages $427 billion in assets, announced on July 20 that its profit increased by $524 million in the last two quarters. The bank most likely benefited from an increase in trading revenues throughout the U.S. and Europe.
The profit of Julius Baer reportedly spiked by 34% in the first half of 2020. It coincides with the bank’s introduction of a custodial service for digital assets — like Bitcoin (BTC) — in January.
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Written By: Cointelegraph
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