Strategy & Practice Management

2017 - a good year for UBP

UBP net profit up 25%

UBP was significantly more profitable in 2017, with net profit rising 25% from CHF 176.4 million in 2016 to CHF 220.4 million in 2017, and with the cost/income ratio improving to 64.1% versus 67.9% in 2016. 

At 31 December 2017, assets under management reached CHF 125.3 billion, up 5.9% (CHF 7 billion) compared with the previous financial year (CHF 118.3 billion at the end of 2016). Rising markets, net inflows from institutional investors (CHF 2.5 billion) and new money from private clients in emerging countries more than offset outflows resulting from further tax regularisations, mainly by non-European clients. 

“Although these results are, in part, due to positive economic conditions and buoyant markets, they above all reflect the efforts and investments we have made over the last few years, particularly in Asia. Our 2017 performance was achieved in the context of a favourable economic environment, but it was also supported by a Swiss banking industry that is in good health,” said Guy de Picciotto, UBP’s CEO.