shares in efg international rose wednesday after the company reported a higher net profit for the first half of 2023 with a rebound in asset inflows from april and said it will buy back 6 million of its own shares to reduce capital at 0706 gmt shares in efg traded 44 higher at chf1090 the swiss private bank said net income for the first half was 1476 million swiss francs 1709 million up from chf1003 million in the yearearlier period operating income for the period grew to chf7248 million from chf6039 million with higher net interest income offsetting a decline in net income from banking fees and commissions efg said its assets under management came to chf1465 billion up from chf1431 billion at the beginning of the year but down from chf1558 billion a year earlier net new assets for the half year totaled chf3 billion with a strong rebound in inflows from april to june it said the current macroeconomic environment with heightened uncertainty in the global banking sector and volatile markets led to subdued asset inflows particularly in the first quarter of the year as some clients across different regions deleveraged their portfolios the company said efg will buy back up to six million own shares in order to reduce capital over the coming year it said based on tuesdays closing price of chf1044 the buyback would be worth chf626 million