1. Newsroom
  2. UBP signs non-prosecution agreement with the US DoJ
Menu
Press Releases 06.01.2016

UBP signs non-prosecution agreement with the US DoJ

UBP signs non-prosecution agreement with the US DoJ

Union Bancaire Privée (“UBP”) has announced that it has reached a non-prosecution agreement (“NPA”) with the US Department of Justice (“DOJ”) as part of its tax regularisation programme. This agreement brings an end to the process that began in 2013 in which UBP filed as a Category 2 bank.

The amount of USD 187,767,000 that UBP will pay to the US authorities will be entirely funded by the provision initially taken and by an allocation of a portion of the Bank’s 2015 net profit.

This resolution has no effect on the Tier 1 ratio of UBP, which remains one of the most well capitalised banks in Switzerland.

Following this transaction, UBP intends to focus entirely on developing its asset management services to private and institutional clients, as well as on its expansion in Asia.

Newsletter

Sign up to receive UBP’s latest news & investment insights directly in your inbox

Click and enter your email address to subscribe

Most read

Press Releases 17.01.2019

Annual results 2018

Union Bancaire Privée announces a net profit of CHF 202.4 million, and net asset inflows of more than 5%

Press Releases 17.10.2018

UBP launches a Positive Impact Equity strategy

Union Bancaire Privée has announced a new addition to its equity product range with the launch of a Positive Impact Equity strategy. This reflects the Bank’s commitment to responsible investment and addresses the growing client demand for investment solutions that combine ethical aspects with performance.


Further reading

Press Releases 17.01.2019

Annual results 2018

Union Bancaire Privée announces a net profit of CHF 202.4 million, and net asset inflows of more than 5%

Press Releases 17.10.2018

UBP launches a Positive Impact Equity strategy

Union Bancaire Privée has announced a new addition to its equity product range with the launch of a Positive Impact Equity strategy. This reflects the Bank’s commitment to responsible investment and addresses the growing client demand for investment solutions that combine ethical aspects with performance.

Press Releases 19.07.2018

UBP announces a net profit of CHF 115 million

Net profit at the end of June 2018 rose to CHF 115.3 million, up 5.3% from CHF 109.5 million from the same period in 2017. The operating result of CHF 147.4 million, compared with CHF 133.9 million a year earlier, represents an increase of 10.1% (+ CHF 13.5 million). Assets under management reached CHF 128.4 billion thanks to net inflows of CHF 2.7 billion.