(Bloomberg) -- Julius Baer Group, Switzerland’s third-largest wealth manager, said profit declined 30% last year as it absorbed Merrill Lynch businesses acquired from Bank of America.

Net income fell to 188 million Swiss francs ($207 million) from 268 million francs a year earlier, the bank said in an e- mailed statement today, after restating its 2012 earnings. The stock fell in Zurich trading.

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