UBP net profit up by 10% – mid-year report

Union Bancaire Privée has announced its net profit has reached CHF 77.2m, against CHF 70m last year.

Assets under management were CHF81.1bn, a higher amount compared with the CHF80bn at the end of December 2012.

UBP reported that the result comes from inflows from retail and institutional clients, but it does not include the data coming from the acquisition of Lloyds Banking Group’s international private banking announced at the end of May.

The firm’s proceeds amounted to CHF349.4m for the first half of 2013, against CHF 344.5in the same period of 2012.

Total assets have reached CHF 18.8bn and it remains stable in the overall, with a strong liquidity, UBP said.

“Thanks to its cautious approach to risk management, UBP continues to benefit of a solid financial basis and with a capitalisation index Tier 1 above 30%,” UBP report also read.



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