The Swiss-based private bank EFG International said its profit in 2008 dropped 33 percent compared to the previous year, a report would led to its stock dropping 35 percent. EFG said its profit for 2008 was 221.9 million francs on total revenues of 946.3 million. The results were below expectations. At the end of last year, clients’ assets under management stood at 77.2 billion francs, down from 98.3 billion at the end of 2007. EFG attributed this in part to a strong franc compared to other currencies and the general market conditions, which also affected clients’ wealth. EFG said 2008 “was one of the most challenging years in living memory.