ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Feb 02, 2016 20:00 JST
Source:
UBP
UBP Increases Its AuM by 11.5%, While Limiting the Impact of the Strong Swiss Franc on Its Operating Results
GENEVE, CH, Feb 02, 2016 - (ACN Newswire) - Annual results 2015
- Assets under management of Union Bancaire Privee, UBP SA ("UBP") rose by 11.5% to CHF 110 billion as a result of inflows from institutional clients, and those coming from the Coutts EMEA (Europe, Middle East & Africa) acquisition.
- The operating result (excluding restructuring costs and provisions) reached CHF 152 million (CHF 163 million at the end of 2014); a slight decline in a period of particularly challenging circumstances, due mainly to negative interest rates and currency effects.
- Taking into account the one-off costs related to the integration of Coutts EMEA, and the settlement with US Department of Justice's Swiss Bank Program (USD 188 million), net profit amounted to CHF 25.2 million.
Results affected by exceptional factors
Business revenue remained stable, reaching CHF 750 million, compared with CHF 768 million at the end of 2014, despite particularly difficult market conditions, including renewed volatility, negative interest rates and a very strong currency. The 2.4% increase in operating expenses was modest considering the Coutts EMEA integration costs and the substantial investments made for implementing new regulations.
As at 31 December 2015, assets under management stood at CHF 110 billion. This 11.5% increase on the previous financial year is due to net inflows from institutional clients, as well as those clients acquired from Coutts EMEA. Total net inflows amounted to CHF 15.7 billion, which compensated the impact of market volatility and the strong Swiss franc, the combined impact of which is estimated at nearly CHF 4 billion.
"Our operating result reflects the resilience of our Private Banking and Asset Management businesses despite the difficult market conditions, thanks mainly to our costs being well controlled as well as a sharp increase in our assets under management," explains Guy de Picciotto, UBP's CEO.
Solid equity base
Following the Coutts EMEA acquisition, UBP has a Tier 1 ratio of 24%, well above the minimum required by Basel III and by the FINMA. UBP remains one of the best-capitalised banks, with the means to further develop its wealth management business for both private and institutional clients.
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 24% as at 31 December 2015. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs around 1,450 people in some twenty-five locations worldwide; it held CHF 110 billion in assets under management as at 31 December 2015. www.ubp.com
For any further information
Bernard Schuster
Group Head of Communications
tel.: +41 58 819 24 70
e-mail:
bernard.schuster@ubp.ch
Source: UBP
Sectors: Daily Finance
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Four-strong TOYOTA GAZOO Racing squad to push for more Portugal success
May 02, 2024 18:05 JST
Spectacular Spa awaits TOYOTA GAZOO Racing
May 02, 2024 17:46 JST
Q&M Dental Enhances Digital Capabilities by Integrating Align Technology's Newest iTero Lumina(TM) Intraoral Scanner Across Dental Clinics in Singapore
May 02, 2024 11:00 JST
Sumitomo Metal Mining and Mitsubishi Corporation to Participate in Kalgoorlie Nickel Project - Goongarrie Hub
Apr 30, 2024 19:08 JST
New Immuno-Oncology Research Project in Partnership With Merck Starts at the BioMed X Institute in Heidelberg
Apr 30, 2024 18:00 JST
SPARX Group Establishes Space Frontiers Second Fund
Apr 29, 2024 18:49 JST
MHI Establishes Local Subsidiary "Mitsubishi Heavy Industries Vietnam"
Apr 29, 2024 18:00 JST
POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada
Apr 29, 2024 14:25 JST
Honda Plans to Establish Comprehensive Electric Vehicle Value Chain in Ontario, Canada
Apr 29, 2024 14:16 JST
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
More Latest Release >>
Related Release
Union Bancaire Privee announces strong first half-year results; increasing net profit by more than 20% to CHF 110 million
July 20 2017 15:30 JST
Union Bancaire Privee reports a solid net profit of CHF 176.4 million
January 24 2017 15:30 JST
Union Bancaire Privee Announces a Net Result of CHF 90 Million, Up 13%
July 22 2016 15:30 JST
Union Bancaire Privee Completes Its Acquisition of Coutts Activities in Asia
April 14 2016 14:30 JST
Union Bancaire Privee Limits the Negative Effects of a Stronger Swiss Franc, Posting a Net Result of CHF 79.5 Million
July 28 2015 16:00 JST
More Press release >>