2023-12-16 22:30:00
Past risk control
The loans from Bank Julius Baer to René Benko did not go through the risk department. Finma was informed – and did not intervene.
Under fire: Philipp Rickenbacher, head of Bank Julius Baer.
Photo: PD
Bank Julius Baer now believes that the Benko affair can be sat out. This despite the fact that the bank’s shares have lost over 20 percent of their value since it became clear that they had given the Austrian real estate tycoon René Benko a 606 million franc loan with dubious collateral. And even though the bank itself now assumes that a large part of the money has been lost. However, exactly how much is unclear.
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