Thursday 19, July 2018 by Kudakwashe

UBP posts a 5.3 per cent increase in net profit for H1 2018

 

UBP prioritise investing in its markets through offering innovative solutions to private and institutional clients.

  

Swiss private bank, UBP, has posted Union Bancaire Privee (UBP) posted a 5.3 per cent increase in net profit from CHF 109.5 million in June 2017 to CHF 115.3 million at the end of June 2018.

UBP, which also has a representative office in Dubai, shrugged of a shrugged off a more volatile market environment which was accompanied by the decrease in brokerage fees caused by fewer client transactions, this achievement accounted for over 60 per cent of assets under management.

Additionally, the operating revenues grew by six per cent, rising from CHF 509.6 million H1 2017 to CHF 540.0 million at the end of June 2018.

The operating expenses of 341.0 million at the end of June 2018 were up slightly less compared to CHF 323.7 million a year earlier. This increase was mainly the result of new hires in the first half of the year, as well as investments in IT and digital.

The cost/income ratio of 63.1 per cent continues to demonstrate that costs and margins are managed both efficiently and effectively.

The Bank’s solid financial base which stands at 290.4 per cent can also be seen in the company’s short-term liquidity ratio.

 

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