Sun, Aug 2, 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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner