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Swiss global investment bank UBS posted a net profit of USD 7.6 billion in 2022 despite a “difficult macroeconomic and geopolitical environment”. Additionally, the Swiss financial services company reported pre-tax earnings (PBT) of $9.6 billion and diluted earnings per share (EPS) of $2.25 last year.
UBS released these figures on Tuesday in its 2022 full-year and fourth-quarter results. In the fourth quarter of 2022, Global Bank said he generated a pre-tax profit of US$1.9 billion, with EPS of US$0.50.
These pre-tax earnings reflect across UBS’s Global Wealth Management, Personal and Corporate Banking, Wealth Management and Investment Banking businesses. For example, PBT in the Global Wealth Management business reached $1 billion in Q4 2022 and $5 billion during fiscal 2022, both growing at 88% and 4% year-over-year (YoY) respectively. is shown.
However, these ‘solid’ results came despite year-on-year declines in revenues from various UBS business units. Revenue from the company’s global wealth management business fell by 5%, while its wealth management division fell by 31%. In addition, total income from UBS’s investment banking business fell by 24%. On the contrary, the bank’s personal and corporate banking revenues increased by 10% year-on-year in 2022.
Watch our recent FMLS22 session on building partnerships between fintechs and banks.
UBS said its global wealth management business generated US$17 billion in new fee-generating assets in the past year. In addition, the wealth management department was able to generate US$21 billion of net new money from the region, the financial services firm said.
In Switzerland, a global investment bank, UBS maintains its position as the country’s top bank, saying it posted record loans and deposits. This is the same as UBS generating US$7 billion in new lending and US$9 billion in new deposits from its combination of global wealth management and personal and corporate banking.
Additionally, in Europe, the Middle East and Africa, UBS said its net new fee-generating assets reached US$20 billion. Besides, the global bank noted that it sold a domestic wealth management business in Spain in the past year.
Additionally, the Swiss company reported outstanding performance from its operations in the Asia Pacific (APAC) region, generating US$14 billion in net new fee-generating assets during the period.
UBS said its “unwavering commitment” to its customers had allowed it to “maintain positive momentum across the company” over the past year.
For the full year against this backdrop, we expect to generate US$60 billion of net new fee-generating assets in Global Wealth Management, US$25 billion in net new money in asset management (including US$26 billion in money markets) and net We raised CHF 2 billion in new sales, with growth of 8% in personal banking investment products, explained UBS.
Swiss global investment bank UBS posted a net profit of USD 7.6 billion in 2022 despite a “difficult macroeconomic and geopolitical environment”. Additionally, the Swiss financial services company reported pre-tax earnings (PBT) of $9.6 billion and diluted earnings per share (EPS) of $2.25 last year.
UBS released these figures on Tuesday in its 2022 full-year and fourth-quarter results. In the fourth quarter of 2022, Global Bank said he generated a pre-tax profit of US$1.9 billion, with EPS of US$0.50.
These pre-tax earnings reflect across UBS’s Global Wealth Management, Personal and Corporate Banking, Wealth Management and Investment Banking businesses. For example, PBT in the Global Wealth Management business reached USD 1 billion in Q4 2022 and USD 5 billion during FY 2022, both growing at 88% and 4% year-on-year (YoY) respectively. is shown.
However, these ‘solid’ results came despite year-on-year declines in revenues from various UBS business units. Revenue from the company’s global wealth management business fell by 5%, while its wealth management division fell by 31%. In addition, total income from UBS’s investment banking business fell by 24%. On the contrary, the bank’s personal and corporate banking revenues increased by 10% year-on-year in 2022.
Watch our recent FMLS22 session on building partnerships between fintechs and banks.
UBS said its global wealth management business generated US$17 billion in new fee-generating assets in the past year. In addition, the wealth management department was able to generate US$21 billion of net new money from the region, the financial services firm said.
In Switzerland, a global investment bank, UBS said it maintained its position as the country’s top bank, posting record loans and deposits. This is the same as UBS generating US$7 billion in new lending and US$9 billion in new deposits from its combination of global wealth management and personal and corporate banking.
Additionally, in Europe, the Middle East and Africa, UBS said its net new fee-generating assets reached US$20 billion. Besides, the global bank noted that it sold a domestic wealth management business in Spain in the past year.
Additionally, the Swiss company reported outstanding performance from its operations in the Asia Pacific (APAC) region, generating US$14 billion in net new fee-generating assets during the period.
UBS said its “unwavering commitment” to its customers had allowed it to “maintain positive momentum across the company” over the past year.
For the full year against this backdrop, we expect to generate US$60 billion of net new fee-generating assets in Global Wealth Management, US$25 billion in net new money in asset management (including US$26 billion in money markets) and net We collected CHF 2 billion in new sales, with growth of 8% in personal banking investment products, explained UBS.
