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Communiqués de presse 20.07.2017

L'UBP affiche de bons résultats semestriels et enregistre un bénéfice net de CHF 110 millions

L'UBP affiche de bons résultats semestriels et enregistre un bénéfice net de CHF 110 millions

Le bénéfice net s’établit à CHF 109,5 millions à fin juin 2017, contre CHF 89,9 millions un an plus tôt, soit une progression de 21,6%. Les avoirs sous gestion s’élèvent à CHF 118,9 milliards à fin juin 2017.


Des résultats portés par une forte activité opérationnelle

Les revenus de l’activité affichent une progression de 12,5% et s’élèvent à CHF 509,5 millions à fin juin 2017, contre CHF 452,9 millions à fin juin 2016. La marge d’intérêt a augmenté de 18,5% et se monte à CHF 139,3 millions, bénéficiant notamment des hausses de taux d’intérêt sur le dollar. L’augmentation des commissions de plus de 10% reflète la bonne tenue des marchés et la progression des actifs de la clientèle privée au bénéfice de mandats de conseil.

Les charges d’exploitation augmentent quant à elles de 9,9%, passant à CHF 323,7 millions contre CHF 294,5 millions un an plus tôt, sous l’effet de l’intégration de Coutts en Asie, finalisée en avril 2016. La gestion rigoureuse de ses coûts permet à l’UBP de poursuivre l’amélioration de son cost/income ratio (hors amortissement et provisions), lequel atteint 63,5% à fin juin 2017, contre 67,9% à fin décembre 2016.

Le bénéfice opérationnel s’élève donc à CHF 133,7 millions, contre CHF 110,5 millions un an plus tôt, soit une augmentation de plus de CHF 23 millions (+21,2%).

Les avoirs sous gestion restent stables et s’élèvent à CHF 118,9 milliards à fin juin 2017, contre CHF 118,3 milliards à fin décembre 2016. Les bonnes performances de gestion, réalisées dans un contexte de marché favorable, ont permis de compenser largement les effets de change négatifs sur le premier semestre (CHF -3,3 milliards). Parallèlement, la croissance organique enregistrée dans l’Asset Management se poursuit, et la collecte atteint CHF 1,6 milliard à fin juin. Ces apports permettent de contrebalancer les sorties liées aux dernières vagues de régularisation touchant principalement la clientèle privée européenne et latino-américaine.

Le ratio Tier 1, qui s’affiche à 26%, demeure largement supérieur au minimum requis par Bâle III et la FINMA.

«Les résultats du premier semestre sont encourageants. Ils tiennent, certes, aux conditions de marché favorables, mais ils traduisent surtout le travail de fond réalisé par nos équipes afin de proposer à nos clients des solutions innovantes. Ces résultats sont également le fruit des investissements importants effectués ces derniers mois pour renforcer nos équipes et reflètent le dynamisme de nos activités en Asie», explique Guy de Picciotto, CEO de l’UBP.

Résultats Financiers au 30 juin 2017

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Actualités les plus lues

Market insight 24.04.2018

Richmond Fed manufacturing fell sharply in April, disappointing German IFO survey

US: Richmond Fed manufacturing (Apr): -3 vs 16 expected (prior: 15)

  • The index fell sharply in April for the second consecutive month.
  • The underlying composition was generally weak, with sharp declines in the shipments and new orders components.

 

US: Consumer confidence (CB) (Apr): 128.7 vs 126 expected (prior: 127 revised from 127.7)

  • The improvement in confidence was spread evenly across the present situation and expectations indices.

 

US: New home sales (Mar): 694k vs 630k expected (prior: 667k revised from 618k)

  • On a m/m basis: 4% vs 1.9% expected (prior: 3.6% revised from -0.6%)
  • By region, March sales increased in the West (+28.3%), South (+0.8%) but declined in the Northeast (-54.8%) and Midwest (-2.4%). Inventory available on the market edged down to 5.2 months of available supply, towards the lower end of its 12-month range.

 

US: Housing prices (FFHA) (Feb): 0.6% q/q as expected (prior: 0.9% revised from 0.8%)

 

Germany: IFO (Apr): 102.1 vs 102.8 expected (prior: 103.3 revised from 103.2)

  • Expectations: 98.7 vs 99.5 expected (prior: 100 revised from 103.2)
  • Current assessment: 105.7 vs 106 expected (prior: 106.6 revised from 106.5)
  • The headline decline was driven by a drop in expectations. From a sector perspective, sentiment in manufacturing eased further from high levels, while construction and retail sentiment improved slightly.
  • Note that there have been methodological changes to the survey this month, which in theory should make it a better guide to German GDP growth.

 

France: Business confidence (Apr): 108 as expected (prior: 109)

  • Manufacturing: 109 vs 110 expected (prior: 110 revised from 111)
Market insight 23.04.2018

Flash PMI manufacturing: higher in the US but lower in the eurozone; flash PMI services higher in the US and in the eurozone

US: Markit Manufacturing PMI (Apr.): 56.5 vs 55.2 expected (prior: 55.6)

  • Flash estimate of business sentiment in manufacturing has rebounded from past month thanks to new orders and production.
  • These data, if confirmed, will fuel the scenario of a rebound in activity in Q2.

 

US: Markit Services PMI (Apr.): 54.4 vs 54.1 expected (prior: 54)

  • A modest rebound in flash estimate for services: improving new orders, but lower employment.

 

US: Existing home sales (March): 5.6M vs 5.55M expected (prior: 5.54M)

  • A rebound in sales of condos, but a modest rise in single family house. Inventories were slightly on the rise.
  • Median and average prices of houses sold remained on a strong trend (respectively: 5.8% y/y; 4.1% y/y).
  • Trend in sales remain positive, but monthly data were highly volatile over the past four months.

 

Eurozone: PMI Manufacturing (Apr.): 56 vs 56.1 expected (prior: 56.6)

  • Flash estimate of business sentiment has eroded further from past month; the fall was limited in Germany (-0.1 point) but larger in France (-0.3 pt).
  • Business sentiment has probably weakened in peripherals leading to the monthly fall in total estimate.
  • Growth should stabilize at a slightly lower pace in Q1-Q2 compared to the highs seen in Q4.

 

Eurozone: PMI Services (Apr.): 55 vs 54.6 expected (prior: 54.9)

  • Flash estimate in services has slightly increased from past month; sentiment has increased more in France (+0.5 pt) than in Germany (+0.2 pt).

 

Poland: Retail sales (March): 17.8% m/m vs 16.6% expected (prior: -3%)

  • Trend in sales has accelerated from 7.9% y/y to 9.2% y/y (8.8% y/y in real terms).
  • The rebound was broad-based across sectors.

 

Switzerland: M3 (March): 3.3% y/y (prior: 3.7%)

  • Growth pace of monetary aggregates has slowed down from past month.
Market insight 19.04.2018

Mixed Philly Fed business sentiment in the US; declining sales in UK

US: Philadelphia Fed. (Apr.): 23.2 vs 21 expected (prior: 22.3)

  • Sentiment on current situation has slightly increased but the six-month view index has significantly declined from previous highs.
  • Positive view on current situation has been fueled by rising prices paid, employment and average workweek, while shipments and new orders were on the decline.
  • The decline on future view has been fueled by orders, employment and capital expenditure.
  • As the survey is very volatile, it is difficult to really conclude on the underlying trend except a return from previous high level.

 

US: Initial jobless claims (Apr. 14): 232k vs 230k expected (prior: 233k)

  • Continuing claims at 1863 k after 1878 k past week.

 

UK: Retail sales (March): -0.5% m/m vs -0.4% expected (prior: 0.4% revised from 0.6%)

  • Extraordinary bad weather conditions have weighted down on monthly sales, and the fall was broad-based across sectors.
  • Consumption has weakened in Q1; downside risks remain in place as the political situation has turned more fragile domestically.

 

Poland: Industrial production (March): 11.4% m/m vs 12.4% expected (prior: -2.2%)

  • Technical rebound after the fall past month; the yearly trend has moderated.

 

Poland: PPI (March): 0.4%m/m vs 0.1% expected (prior: -0.2% revised from -0.3%)

  • PPIs have rebounded from -0.1% y/y to 0.3% y/y.

A lire également

Market insight 24.04.2018

Richmond Fed manufacturing fell sharply in April, disappointing German IFO survey

US: Richmond Fed manufacturing (Apr): -3 vs 16 expected (prior: 15)

  • The index fell sharply in April for the second consecutive month.
  • The underlying composition was generally weak, with sharp declines in the shipments and new orders components.

 

US: Consumer confidence (CB) (Apr): 128.7 vs 126 expected (prior: 127 revised from 127.7)

  • The improvement in confidence was spread evenly across the present situation and expectations indices.

 

US: New home sales (Mar): 694k vs 630k expected (prior: 667k revised from 618k)

  • On a m/m basis: 4% vs 1.9% expected (prior: 3.6% revised from -0.6%)
  • By region, March sales increased in the West (+28.3%), South (+0.8%) but declined in the Northeast (-54.8%) and Midwest (-2.4%). Inventory available on the market edged down to 5.2 months of available supply, towards the lower end of its 12-month range.

 

US: Housing prices (FFHA) (Feb): 0.6% q/q as expected (prior: 0.9% revised from 0.8%)

 

Germany: IFO (Apr): 102.1 vs 102.8 expected (prior: 103.3 revised from 103.2)

  • Expectations: 98.7 vs 99.5 expected (prior: 100 revised from 103.2)
  • Current assessment: 105.7 vs 106 expected (prior: 106.6 revised from 106.5)
  • The headline decline was driven by a drop in expectations. From a sector perspective, sentiment in manufacturing eased further from high levels, while construction and retail sentiment improved slightly.
  • Note that there have been methodological changes to the survey this month, which in theory should make it a better guide to German GDP growth.

 

France: Business confidence (Apr): 108 as expected (prior: 109)

  • Manufacturing: 109 vs 110 expected (prior: 110 revised from 111)
Market insight 23.04.2018

Flash PMI manufacturing: higher in the US but lower in the eurozone; flash PMI services higher in the US and in the eurozone

US: Markit Manufacturing PMI (Apr.): 56.5 vs 55.2 expected (prior: 55.6)

  • Flash estimate of business sentiment in manufacturing has rebounded from past month thanks to new orders and production.
  • These data, if confirmed, will fuel the scenario of a rebound in activity in Q2.

 

US: Markit Services PMI (Apr.): 54.4 vs 54.1 expected (prior: 54)

  • A modest rebound in flash estimate for services: improving new orders, but lower employment.

 

US: Existing home sales (March): 5.6M vs 5.55M expected (prior: 5.54M)

  • A rebound in sales of condos, but a modest rise in single family house. Inventories were slightly on the rise.
  • Median and average prices of houses sold remained on a strong trend (respectively: 5.8% y/y; 4.1% y/y).
  • Trend in sales remain positive, but monthly data were highly volatile over the past four months.

 

Eurozone: PMI Manufacturing (Apr.): 56 vs 56.1 expected (prior: 56.6)

  • Flash estimate of business sentiment has eroded further from past month; the fall was limited in Germany (-0.1 point) but larger in France (-0.3 pt).
  • Business sentiment has probably weakened in peripherals leading to the monthly fall in total estimate.
  • Growth should stabilize at a slightly lower pace in Q1-Q2 compared to the highs seen in Q4.

 

Eurozone: PMI Services (Apr.): 55 vs 54.6 expected (prior: 54.9)

  • Flash estimate in services has slightly increased from past month; sentiment has increased more in France (+0.5 pt) than in Germany (+0.2 pt).

 

Poland: Retail sales (March): 17.8% m/m vs 16.6% expected (prior: -3%)

  • Trend in sales has accelerated from 7.9% y/y to 9.2% y/y (8.8% y/y in real terms).
  • The rebound was broad-based across sectors.

 

Switzerland: M3 (March): 3.3% y/y (prior: 3.7%)

  • Growth pace of monetary aggregates has slowed down from past month.
Market insight 19.04.2018

Mixed Philly Fed business sentiment in the US; declining sales in UK

US: Philadelphia Fed. (Apr.): 23.2 vs 21 expected (prior: 22.3)

  • Sentiment on current situation has slightly increased but the six-month view index has significantly declined from previous highs.
  • Positive view on current situation has been fueled by rising prices paid, employment and average workweek, while shipments and new orders were on the decline.
  • The decline on future view has been fueled by orders, employment and capital expenditure.
  • As the survey is very volatile, it is difficult to really conclude on the underlying trend except a return from previous high level.

 

US: Initial jobless claims (Apr. 14): 232k vs 230k expected (prior: 233k)

  • Continuing claims at 1863 k after 1878 k past week.

 

UK: Retail sales (March): -0.5% m/m vs -0.4% expected (prior: 0.4% revised from 0.6%)

  • Extraordinary bad weather conditions have weighted down on monthly sales, and the fall was broad-based across sectors.
  • Consumption has weakened in Q1; downside risks remain in place as the political situation has turned more fragile domestically.

 

Poland: Industrial production (March): 11.4% m/m vs 12.4% expected (prior: -2.2%)

  • Technical rebound after the fall past month; the yearly trend has moderated.

 

Poland: PPI (March): 0.4%m/m vs 0.1% expected (prior: -0.2% revised from -0.3%)

  • PPIs have rebounded from -0.1% y/y to 0.3% y/y.