1. Newsroom
  2. First half-year results 2020
Menu
Press Releases 17.07.2020

First half-year results 2020

First half-year results 2020

Union Bancaire Privée announces a net profit of CHF 107.6 million for the first half of 2020


  • Operating profit in the six months to the end of June 2020 was CHF 130.6 million, up 19.6% year-on-year.
  • Net profit amounted to CHF 107.6 million compared with the previous year’s figure of CHF 117.2 million, which included a non-recurring profit from the sale of a property.
  • Net new assets totalled CHF 3.7 billion in the first half of the year.

Increased trading activity

UBP attracted a total of CHF 3.7 billion of net new assets in the first six months of the year. These inflows, which came mainly from private clients, demonstrate both the appeal of UBP’s investment solutions and the solid management of our clients’ assets during a particularly challenging period. The inflows offset most of the decline in assets under management caused by the Covid-19-related impact on financial markets, but also by adverse currency movements, especially the US dollar. Overall, assets under management totalled CHF 137.2 billion at the end of June 2020, down 2.2% compared with CHF 140.3 billion at the end of 2019.

Revenues rose 4.5% to CHF 557.0 million in the first half of 2020, as opposed to CHF 533.2 million a year earlier. The increase was driven by strong trading activity at a time of much greater volatility in the financial markets.

Operating expenses fell slightly, by CHF 3.0 million to CHF 360.9 million versus CHF 363.9 million in the first half of 2019, reflecting the Bank’s strict cost control during the period.

Operating profit of CHF 130.6 million shows a substantial increase of 19.6% or CHF 21.4 million compared with CHF 109.1 million a year earlier. Net profit amounted to CHF 107.6 million against the previous year’s figure of CHF 117.2 million, a result which included a non-recurring gain from the sale of a property in London.

The Tier 1 ratio of 27.5% at the end of June 2020, along with the short-term liquidity coverage ratio (LCR) of 254.0%, demonstrate the Bank’s solid financial position and the quality of its balance sheet, both of which have helped UBP to successfully traverse this challenging period.

“Against a background of an economic shutdown and an unprecedented public health crisis, we have remained close to our clients while experiencing a high level of activity in many business lines. We should not, however, underestimate the severe contraction in the real economy, which has led us to adopt a relatively cautious investment strategy for the next few months,”

said UBP’s CEO Guy de Picciotto.

Financial results as at 30 June 2020

Download the Press Release in the following languages:

English
Français
Deutsch
Italiano
Español
Simplified Chinese
Traditional Chinese
 

Expertise

Impact investing - Contributing to a more sustainable future

What are the key features of impact investing?

Read more

Most read

Press Releases 14.05.2020

UBP launches a new emerging markets impact strategy

Union Bancaire Privée (UBP) today announces the launch of a new emerging equity solution broadening its impact investment platform.

Press Releases 22.07.2020

UBP partners with fintech QuantCube Technology

Union Bancaire Privée partners with fintech QuantCube Technology to develop innovative equity stock-picking strategies.

Press Releases 24.06.2020

New absolute return strategy on UBP's alternative UCITS platform

UBP has enhanced its alternative UCITS platform with a new absolute return strategy launched in partnership with Baltimore-based alternative investment manager Campbell & Company Investment Adviser LLC.

Further reading

Press Releases 22.07.2020

UBP partners with fintech QuantCube Technology

Union Bancaire Privée partners with fintech QuantCube Technology to develop innovative equity stock-picking strategies.

Press Releases 16.07.2020

UBP launches a new corporate governance-focused strategy

Union Bancaire Privée, UBP SA (“UBP”) has recently added a new strategy to its alternative UCITS platform. The market-neutral and sector-neutral strategy will invest in Japanese equities and focus on individual companies’ corporate governance.

Press Releases 24.06.2020

New absolute return strategy on UBP's alternative UCITS platform

UBP has enhanced its alternative UCITS platform with a new absolute return strategy launched in partnership with Baltimore-based alternative investment manager Campbell & Company Investment Adviser LLC.