Union Bancaire Privee Increases Assets Under Management by 10%
Union Bancaire Privee Increases Assets Under Management by 10%
PR55630
GENEVA, Jan. 25, /PRN=KYODO JBN/ --
- Annual results 2013
Union Bancaire Privee, UBP SA (UBP) has announced a 10% year-on-year rise in
its assets under management to CHF 87.7 billion (USD 98.6 billion) as at 31
December 2013 (CHF 80 billion at the end of 2012).
The Group's operating profit came to CHF 218.3 million (USD 245.5 million), up
more than 20% on the previous year, attesting to the business' good health.
UBP's consolidated net profit came to CHF 152 million (USD 171 million) after
provisions (compared with CHF 175 million at the end of 2012).
The increase in the operating result is attributable to net inflows of funds
from private and institutional clients, as well as to sound asset management
performances and to the effects of the post-acquisition synergies.
The Bank's financial base is sound, with a Tier 1 ratio of 29%, making it one
of the best-capitalised Swiss banks.
"In the midst of the industry's mutations and consolidations, UBP can rely on
its sound client-acquisition strategy, its high-performance range of products
and efficient services, and its teams' unwavering efforts to meet all its
clients' needs", says Guy de Picciotto, UBP's CEO.
Increasing assets and improving results
The Bank expanded its assets under management and increased its operational
results in 2013. Assets under management amounted to CHF 87.7 billion as at 31
December 2013, up 10% on the previous year. The Group's operating profit grew
by 20%, to CHF 218.3 million, up from CHF 181.4 million the year before. UBP's
consolidated net profit came to CHF 152 million after provisions (13% lower
than the CHF 175 million at the end of 2012). The operational integration of
Lloyds having become effective on 1 November 2013, the synergies will come into
effect over the first half of 2014.
The year's income was CHF 694 million (USD 780 million), up from CHF 691
million a year earlier, with a CHF 14 million (9%) fall in the interest margin,
offset by a CHF 25.5 million (6%) rise over the year in commissions to CHF
460.6 million (USD 517.9 million). The synergies following the earlier
acquisitions reduced operating expenses by 6.6%, to CHF 475.4 million (USD
534.6 million), year on year. The Group's consolidated cost/income ratio is
68.5%, confirming the Group's profitability.
About Union Bancaire Privee (UBP)
UBP is one of Switzerland's leading private banks, and is among the
best-capitalised, with a Tier I ratio of 29%. The Bank is specialised in the
field of wealth management for both private and institutional clients. It is
based in Geneva and employs about 1,350 people in some twenty locations
worldwide; it held CHF 87.7 billion (USD 98.6 billion) in assets under
management as at 31 December 2013.
http://www.linkedin.com/company/ubp
For any further information, please contact:
Jerome Koechlin - Head of Corporate Communications: Tel. +41-58-819-26-40,
e-mail jko@ubp.ch
Source: UBP - Union Bancaire Privee
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。