1. Newsroom
  2. UBP reports a solid net profit of CHF 176.4 million
Menu
Press Releases 24.01.2017

UBP reports a solid net profit of CHF 176.4 million

UBP reports a solid net profit of CHF 176.4 million

UBP saw profits excluding non-recurring items (operating income) rise significantly by 26.3%. Net profits reached CHF 176.4 million.


Net profits reached CHF 176.4 million, demonstrating a marked improvement in the profitability of the Group, where the cost/income ratio was 67.9% (compared with 69.3% at the end of 2015). Assets under management reached CHF 118.3 billion, a rise of 7.6% on year end 2015 (CHF 110 billion).

Strong growth

Revenue increased sharply (+24.7%) to CHF 934.6 million, compared with CHF 749.7 million at the end of 2015. This rise was largely due to the increase in interest income, fees and commissions related to expansion, particularly in Asia, as well as solid growth in the EMEA region. Operating expenses were CHF 634.7 million (+22.2%) as a result of the completion of the Coutts International integration.

UBP’s operating income rose from CHF 152 million in 2015 to CHF 191.9 million in 2016. This significant increase is testament to the Bank’s continuing ability to adapt to developments in the industry while, at the same time, carefully managing its cost base, as demonstrated by its cost/income ratio of 67.9%, compared with 69.3% at the end of 2015. Net profits totalled CHF 176.4 million.

As of 31 December 2016, assets under management were CHF 118.3 billion, up 7.6% (CHF 8.3 billion) compared to the previous financial year (CHF 110 billion at the end of 2015). This is mainly due to the increase in assets in Asia – a major growth centre for both private and institutional clients – as well as net inflows from institutional clients (CHF 1 billion). These increases largely offset the outflows due to tax regularisations in regions such as Europe and Latin America, as well as adjustments made following the integration of clients from Coutts International.

"The external growth strategy that we have had in place for four years now, and the major investments we have made in our Asset Management division, are both bearing fruit. We are well positioned in those markets where we want to grow. Our ability to adapt, and to offer our clients solutions that meet their needs locally, are key factors in our success," said Guy de Picciotto, UBP’s CEO.

 

Prudent balance sheet management

The Group’s good results have allowed it to increase its equity base and offset the impact of the purchase of Coutts International in Asia. As a result UBP’s Tier 1 ratio remains stable at 24.3%, well above the minima required by Basel III and by the FINMA.

The Bank’s prudent management of its balance sheet is also reflected in its short-term liquidity ratio, which, at 262.1%, is more than 2.6 times the minimum required by Basel III. At the end of 2016, the balance sheet totalled CHF 30.8 billion.

UBP remains one of the best-capitalised banks in its field and has the necessary means to develop its wealth management business for both private and institutional clients.


Download the Press Release in the following languages:

English
Français
Deutsch
Italiano
Español
Dutch
Russian
Chinese
Arab

Newsletter

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

Click and enter your email address to subscribe

Expertise

Impact investing - Creating the future now

The role of impact investing is to strive to solve the world’s most pressing problems by identifying compelling long-term investments.

Read more

Most read

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.

Press Releases 19.07.2018

UBP expands its activities in the UK with the acquisition of ACPI

Union Bancaire Privée, UBP SA (UBP) has announced that it has agreed to acquire ACPI Investments Limited (ACPI), an independent London-based investment management company, and the activities of ACPI IM Limited in Jersey. The transaction is subject to the approval of the relevant regulatory bodies, and is expected to complete during the fourth quarter of 2018.
Press Releases 05.06.2018

New strategy on UBP's alternative UCITS platform

UBP SA is launching a new equity arbitrage strategy on its alternative UCITS platform in partnership with London-based alternative investment manager Cheyne Capital Management (UK) LLP (“Cheyne Capital”). This is the fourth addition to UBP’s alternative UCITS platform, which now has close to CHF 700 million in assets under management.


Further reading

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.

Press Releases 19.07.2018

UBP expands its activities in the UK with the acquisition of ACPI

Union Bancaire Privée, UBP SA (UBP) has announced that it has agreed to acquire ACPI Investments Limited (ACPI), an independent London-based investment management company, and the activities of ACPI IM Limited in Jersey. The transaction is subject to the approval of the relevant regulatory bodies, and is expected to complete during the fourth quarter of 2018.