Julius Baer Experiences Temporary Disorder In IT System, Service Back To Normal

Illustration of Julius Baer's head office. (photo: x @juliusbaer)

JAKARTA - Julius Baer is experiencing a disruption that prevents customers and bankers from being able to access his system on February 16. However, full service will soon recover, the Swiss bank said on Friday, February 23, in response to a report by Bloomberg.

July Baer confirmed a temporary disruption to the IT system on Friday afternoon February 16 due to technical connectivity issues, the bank said on Friday. "In a short time, all systems were restored."

The loaner's shares fell 1.6% on Friday following the news of the disruption.

This disruption occurred at a difficult time for the bank, which is experiencing a management overhaul and this month announced a loss for exposure to the collapsed property group, Signa.

Julius Baer is a Swiss private bank operating internationally and based in Zurich, Switzerland. Founded in 1890, the company has become one of the leading private banks in the world, especially focusing on wealth services, investment management, and personal banking services for individual, institutional, and wealthy families around the world.

Julius Baer is famous for his reputation in providing high-end services to his clients, as well as in asset management and investment. The company has grown into a global network with offices in various countries in Europe, Asia, America, and other regions.