UBP reports AUM of CHF81.1bn, excluding Lloyds impact
Union Bancaire Privée has reported assets under management hit CHF81.1bn as of the end of June, excluding assets linked to the acquisition of Lloyds Banking Group’s international private banking activities.
UBP said its AUM increased by CHF1.1bn compared to the same time last year, boosted by net inflows from both private and institutional clients.
The impact of the acquisition of Lloyds business will be integrated into results when the deal closes, which is expected to be by 31 October 2013.
UBP also reported a 10% rise in its consolidated net profit, to CHF77.2m from CHF70m reported for June 2012.
Income was boosted by an 11% rise in fees and commission, to CHF233.4m.
The bank said its Tier 1 ratio is above 70%, making it one of the best capitalised Swiss banks.
Looking forward, the bank said that it believed opportunities are strong in Switzerland, including as a centre for wealth management at a time when regulatory changes are challenging clients.