Mon, May 25, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Union Bancaire Privée increases assets under management by 8%

Thursday, July 24, 2014
Opalesque Industry Update -
  • Union Bancaire Privée, UBP SA (UBP) has seen an 8% rise in its assets under management since the end of December 2013, from CHF 87.7 billion to CHF 94.8 billion (USD 106.9 billion) at the end of June
  • 2014. This growth is partly attributable to net inflows of CHF 2.4 billion. The Group’s net consolidated earnings have also risen, by 6.2%, to CHF 82 million (USD 92.5 million), up from CHF 77.2 million a year earlier.

  • The Bank has maintained a strong financial base thanks to its cautious approach to risk management and its close watch on the balance sheet. With its Tier 1 ratio of 28%, UBP is one of the best-capitalised Swiss banks.

Growth in assets under management and net earnings
As at 30 June 2014, UBP had posted net earnings of CHF 82 million, which is a 6.2% year-on-year rise (from CHF 77.2 million). Its assets under management came to CHF 94.8 billion, up 8% on December 2013 (CHF 87.7 billion); this rise is attributable in part to net inflows worth CHF 2.4 billion, and also to the full integration of the Lloyds international private banking business in Monaco, which became effective last April.

Income totalled CHF 380.8 million (USD 429.4 million) over these first two quarters, up from CHF 349.4 million for the first half of last year. Operating expenses were kept well under control, at CHF 248.4 million (USD 280.1 million) including Lloyds integration costs. The consolidated cost/income ratio for the Group was 65% despite the strong pressure on margins in the banking industry.

Strong financial foundations
The balance sheet totalled CHF 18.5 billion (USD 20.8 billion). Overall, it has remained stable and highly liquid. By pursuing a conservative approach to risk management, UBP has also been able to maintain a solid financial base: with its Tier 1 ratio of 28%, UBP is one of the best-capitalised Swiss banks.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Comment - Top hedge fund managers talk about how easy their jobs have gotten, BlackRock to Schroders warn of Argentina’s $20bn bond glut, The 35-year “investment supercycle” is drawing to a close, says Bill Gross, Gundlach: When the Fed starts hiking rates, 'GET OUT' of this asset class[more]

    Top hedge fund managers talk about how easy their jobs have gotten From Businessinsider.com.au: Time was, before the financial crisis hit, corporate boards treated multi-billion dollar hedge fund managers like Jehovah’s Witnesses pounding on their doors and flashing bibles. But no more.

  2. T Rowe's challenge to Dell deal may fuel critics of 'appraisal'[more]

    From Reuters.com: An increasingly popular tactic used by hedge funds and others to extract more money from buyouts could soon face a major courtroom test when a big investor in Dell Inc may argue that it should be paid a higher price for the 2013 acquisition of the PC maker. The strategy, known as "

  3. News Briefs - Ergen says LightSquared plan unfairly favors hedge funds, Why hedge fund managers make good advisory clients, I learned a lot about dad-bros after spending 4 days in Vegas with 2,000 hedge funders[more]

    Ergen says LightSquared plan unfairly favors hedge funds LightSquared Inc.’s bankruptcy plan gives hedge funds that invested in the broadband company a leg up while blocking telecommunications firms from competing with it, a fund owned by Dish Network Corp. Chairman Charles Ergen said in

  4. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  5. New market regime has created more dispersion between managers[more]

    Komfie Manalo, Opalesque Asia: The month of April has marked the transition toward a new market regime, Philippe Ferreira, Lyxor AM’s head of research, managed account platform, commented in the May 5's Weekly Briefing. "The first quart

 

banner