PR94185

GENEVA, Jan. 21, 2022 /PRNewswire=KYODO JBN/ --

-Assets under management grew to CHF 160.4 billion at the end of 2021, CHF 13

billion higher than in 2020 (+8.8%).

-Revenue rose by 5.9% to CHF 1.134 billion.

-Operating income increased by 11.1% and net earnings were CHF 201.2 million,

up from CHF 181.4 million the previous year (+10.9%).

Growth in assets under management, supported by positive markets and strong

management performances

Assets under management at UBP rose by 8.8% to CHF 160.4 billion, thanks to

strong performances in its mandates and funds at a time of favourable market

conditions, as well as substantial net capital inflows of CHF 5.7 billion. This

net new money comes mainly from growth markets, but in particular Asia, the

Middle East and Eastern Europe, as well as from the acquisition of Millennium

Banque Privée, which was finalised in the last quarter of the year.

Revenue was 5.9% higher than in 2020, at CHF 1.134 billion, boosted in part by

an increase in commissions (+10.6%), which made up for the shrinking net

interest margins (-7.5%) in the current low interest rate environment.

Operating expenses totalled CHF 754.5 million, rising by 5.0% (CHF 718.4

million in 2020). This increase reflects the substantial investments UBP has

made in strengthening its sustainability and responsible investing expertise

and offering, but also in the recruitment of new teams. Part of the increase is

also due to the costs of the recent acquisitions.

Operating income increased by 11.1%, and net earnings reached CHF 201.2

million, an increase of 10.9% compared with 2020 (CHF 181.4 million). The

cost/income ratio improved to 66.5% (compared with 67.1% in 2020).

"In a context marked with multiple uncertainties we continue to expand in our

areas of expertise and strengthen our footprint in our priority markets, by

implementing our strategy of acquisitions and targeted recruitments. We have

made substantial investments in order to develop management solutions that

match the prevailing market conditions but also those to come in future years,

while at the same time aiming to make UBP a major player in sustainable

finance," states UBP's CEO Guy de Picciotto.

Firm fundamentals

UBP continues to have the means to allow it to develop in both Switzerland and

abroad, with a balance sheet total of CHF 38.8 billion as at the end of

December 2021 (up from CHF 37.8 billion in 2020). Its Tier 1 ratio, at 25.2%,

is well above the minimum requirement under the Basel III accords and FINMA

regulations. Its short-term liquidity coverage ratio (LCR) stands at 274.5%.

These ratios reflect UBP's solid financial base, as well as the quality of its

balance sheet, demonstrated by the long-term deposit rating of Aa2 assigned by

Moody's.

Full financial results

Here(https://mma.prnewswire.com/media/1731073/UBP_FY21_Financial_results_EN.pdf)

About Union Bancaire Privée (UBP)

UBP is one of Switzerland's leading private banks, and is among the

best-capitalised, with a Tier 1 ratio of 25.2%. The Bank is specialised in the

field of wealth management for both private and institutional clients. It is

based in Geneva and employs 1,904 people in over twenty locations worldwide; it

holds CHF 160.4 billion in assets under management (numbers as at 31 December

2021).

www.ubp.com

SOURCE:  Union Bancaire Privee, UBP