2023-11-22 12:16:03
Zurich (awp) – The loans that the Julius Bär bank would have granted to the Austrian group Signa of René Benko continue to fuel conversations. According to the press, part of the loans are backed by shares in the company threatened with bankruptcy. On the stock exchange, Julius Bär shares remained under pressure.
The Zurich establishment would have lent around 250 million dollars to the Austrian group, in exchange for Signa shares whose value has collapsed, wrote the information portal “Inside Paradeplatz” on Wednesday. The Bloomberg agency had already mentioned the guarantee of credits granted by Julius Bär on Signa shares.
Julius Bär still refrains from comments
“We do not, in principle, make any comments on relations with our supposed or real customers,” the Julius Bär press service reiterated to AWP. The Zurich group has never commented on the rumors regarding these credits, which have been circulating for several weeks.
For the record, the Zurich establishment announced Monday, on the occasion of the publication of its results for the first ten months of the current financial year, a value adjustment of 82 million Swiss francs on its credit portfolio, including 70 million for the current month. Analysts and investors assume that these are linked to the collapse of Signa.
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