Union Bancaire Privee announces strong first half-year results; increasing net profit by more than 20% to CHF 110 million
2017年7月20日 - 7:20PM
JCN Newswire
Union Bancaire Privee announces strong first half-year results;
increasing net profit by more than 20% to CHF 110 million
- Net profit at the end of June 2017 was CHF 109.5 million, up
21.6% from CHF 89.9 million a year earlier.
- Assets under management totalled CHF 118.9 billion at the
half-year.
Strong operational activity boosts results
Operating revenues grew by 12.5% year on year, from CHF 452.9
million at mid-year 2016 to CHF 509.5 million at the end of June
2017. The net interest margin increased by 18.5% to CHF 139.3
million supported, among other factors, by higher US dollar
interest rates. The growth in commissions of more than 10%,
although helped by the strength of the markets, also attests to the
rising amount of private client assets in advisory mandates.
Operating expenses increased by 9.9% between June 2016 and June
2017, rising from CHF 294.5 million to CHF 323.7 million, due to
the integration of Coutts in Asia which was finalised in April
2016. Strong cost management enabled UBP to improve its cost/income
ratio (excluding depreciation and provisions), to 63.5% at the end
of June 2017, compared with 67.9% at the end of December 2016.
Operating profit was CHF 133.7 million at the end of June, up from
CHF 110.5 million a year earlier - an increase of CHF 23 million
(21.2%).
Assets under management remained stable at CHF 118.9 billion (CHF
118.3 billion at the end of 2016). Strong performance of those
assets, underpinned by favourable market conditions, made up for
the negative effects of exchange rates during the first half of the
year (CHF -3.3 billion). The Asset Management division continued to
grow organically, with inflows totalling CHF 1.6 billion at the end
of June. These inflows offset the outflows resulting from the
latest wave of tax regularisation programmes, mainly impacting
European and Latin American private clients.
The Tier 1 ratio, at 26%, remains well above the minimum
requirement stipulated under Basel III and by the FINMA.
"The numbers from the first half of the year have been very
encouraging. While we have benefited from positive market
movements, the hard work and dedication of our teams in offering
our clients innovative solutions have played a significant role in
achieving this set of results. They also reflect the substantial
investments we have recently made in strengthening our teams and
demonstrate the dynamism of our activities in Asia," said UBP's
CEO, Guy de Picciotto.
For any further information
Bernard Schuster
Group Head Communications (spokesman)
Tel.: +41 58 819 24 70, e-mail: bernard.schuster@ubp.ch
Maude Hug
Head of Media Relations
Tel.: +41 58 819 75 27, e-mail: maude.hug@ubp.ch
About Union Bancaire Privee (UBP)
UBP is one of Switzerland's leading private banks, and is among the
best-capitalised, with a Tier 1 capital ratio of 26% as at 30 June
2017. The Bank is specialised in the field of wealth management for
both private and institutional clients. It is based in Geneva and
employs 1,694 people in over twenty locations worldwide; it held
some CHF 118.9 billion in assets under management as at 30 June
2017. (www.ubp.com)
Disclaimer
UBP is authorised and regulated in Switzerland by the Swiss
Financial Market Supervisory Authority and is authorised in the
United Kingdom by the Prudential Regulation Authority. UBP is
subject to regulation by the Financial Conduct Authority and
limited regulation by the Prudential Regulation Authority.
Financial results as at 30 June 2017:
http://hugin.info/170238/R/2121407/808476.pdf
配信代行: JCN
Source: UBP
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