Swiss bank settles lawsuit with Social Security

Swiss private bank EFG International said on Tuesday that it has reached a final settlement with Kuwait’s Social Security Institution regarding civil proceedings in the United Kingdom.

The Swiss bank, which had previously recorded a provision to cover the costs of the case, stated that the settlement will impact its net profit in the second half of 2026 by an additional marginal amount of approximately five million Swiss francs (6.09 million dollars).

It added that the settlement eliminates all risks associated with legacy litigation related to claims in the UK proceedings, which concern events that occurred between 1995 and 2012.