Earnings at two Swiss banks active in private banking rose sharply last year amid a sharp rise in fee income.

Julius Baer Group, the parent company of Bank Julius Baer, announced a 49% rise in net earnings, to $216 million. Assets at Julius Baer rose 13%, to $11 billion, and assets under management increased 16%, to nearly $70 billion.

Geneva-based Republic National Bank of New York (Suisse) SA, announced a 15% increase in net earnings, to $69.7 million, as income from commissions and trading increased. Republic New York Corp. owns a 49% stake in the $22 billion-asset Swiss bank.

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