{"id":5268,"date":"2022-01-21T08:39:00","date_gmt":"2022-01-21T08:39:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3638106_AE38106_0"},"modified":"2022-01-21T08:39:00","modified_gmt":"2022-01-21T08:39:00","slug":"annual-results-2021-union-bancaire-privee-posts-net-earnings-of-chf-201-2-million-up-10-9","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=5268","title":{"rendered":"Annual results 2021: Union Bancaire Priv\u00e9e posts net earnings of CHF 201.2 million, up 10.9%"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1576450\/20200123_2700530_1LOGO_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li><i>Assets under management<\/i>&nbsp;grew to CHF&nbsp;160.4 billion at the end of 2021, CHF&nbsp;13 billion higher than in 2020 (+8.8%). <\/li>\n<li><i>Revenue<\/i>&nbsp;rose by 5.9% to CHF&nbsp;1.134 billion. <\/li>\n<li><i>Operating income<\/i>&nbsp;increased by 11.1% and <i>net earnings<\/i> were CHF&nbsp;201.2 million, up from CHF&nbsp;181.4 million the previous year (+10.9%).<\/li>\n<\/ul>\n<p>Growth in assets under management, supported by positive markets and strong management performances <\/p>\n<p><span class=\"xn-location\">GENEVA<\/span>, <span class=\"xn-chron\">Jan. 21, 2022<\/span> \/PRNewswire\/ &#8212; <i>Assets under management<\/i>&nbsp;at UBP rose by 8.8% to CHF&nbsp;160.4 billion, thanks to strong performances in its mandates and funds at a time of favourable market conditions, as well as substantial net capital inflows of CHF&nbsp;5.7 billion. This net new money comes mainly from growth markets, but in particular <span class=\"xn-location\">Asia<\/span>, the <span class=\"xn-location\">Middle East<\/span> and <span class=\"xn-location\">Eastern Europe<\/span>, as well as from the acquisition of Millennium Banque Priv\u00e9e, which was finalised in the last quarter of the year.<\/p>\n<p><i>Revenue<\/i>&nbsp;was 5.9% higher than in 2020, at CHF&nbsp;<span id=\"spanHghlt8c60\">1.134 billion<\/span>, boosted in part by an increase in commissions (+10.6%), which made up for the shrinking net interest margins (-7.5%) in the current low interest rate environment.<\/p>\n<p><i>Operating expenses<\/i>&nbsp;totalled CHF&nbsp;754.5 million, rising by 5.0% (CHF&nbsp;718.4 million in 2020). This increase reflects the substantial investments UBP has made in strengthening its sustainability and responsible investing expertise and offering, but also in the recruitment of new teams. Part of the increase is also due to the costs of the recent acquisitions. <\/p>\n<p><i>Operating income<\/i>&nbsp;increased by 11.1%, and <i>net earnings<\/i> reached CHF&nbsp;201.2 million, an increase of 10.9% compared with 2020 (CHF&nbsp;181.4 million).&nbsp;The <i>cost\/income ratio<\/i> improved to 66.5% (compared with 67.1% in 2020).<\/p>\n<p>&#8220;In a context marked with multiple uncertainties we continue to expand in our areas of expertise and strengthen our footprint in our priority markets, by implementing our strategy of acquisitions and targeted recruitments. We have made substantial investments in order to develop management solutions that match the prevailing market conditions but also those to come in future years, while at the same time aiming to make UBP a major player in sustainable finance,&#8221; states UBP&#8217;s CEO <span class=\"xn-person\">Guy de Picciotto<\/span>. <\/p>\n<p><b>Firm fundamentals<\/b><\/p>\n<p>UBP continues to have the means to allow it to develop in both <span class=\"xn-location\">Switzerland<\/span> and abroad, with a balance sheet total of CHF&nbsp;38.8 billion as at the end of <span class=\"xn-chron\">December 2021<\/span> (up from <span class=\"xn-money\">CHF 37.8 billion<\/span> in 2020). Its <i>Tier 1 ratio<\/i>, at 25.2%, is well above the minimum requirement under the Basel III accords and FINMA regulations. Its <i>short-term<\/i> <i>liquidity coverage ratio<\/i> (LCR) stands at 274.5%.<\/p>\n<p>These ratios reflect UBP&#8217;s solid financial base, as well as the quality of its balance sheet, demonstrated by the long-term deposit rating of Aa2 assigned by Moody&#8217;s.<\/p>\n<p><span id=\"spanHghltfe18\">Full financial results <a target=\"_blank\" href=\"https:\/\/mma.prnewswire.com\/media\/1731073\/UBP_FY21_Financial_results_EN.pdf\" rel=\"nofollow noopener\">Here<\/a><\/span><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder9528\">\n<p><a href=\"https:\/\/mma.prnasia.com\/media2\/1731073\/UBP_FY21_Financial_results_EN.pdf?p=original\" target=\"_blank\" rel=\"nofollow noopener\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1731073\/UBP_FY21_Financial_results_EN.pdf?p=pdfthumbnail\" title alt><\/a><br \/><span><\/span><\/p>\n<\/p><\/div>\n<p><b>About Union Bancaire Priv\u00e9e (UBP)<\/b><\/p>\n<p>UBP is one of <span class=\"xn-location\">Switzerland&#8217;s<\/span> leading private banks, and is among the best-capitalised, with a Tier 1 ratio of 25.2%. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in <span class=\"xn-location\">Geneva<\/span> and employs 1,904 people in over twenty locations worldwide; it holds <span class=\"xn-money\">CHF 160.4 billion<\/span> in assets under management (numbers as at <span class=\"xn-chron\">31 December 2021<\/span>).<br \/><a target=\"_blank\" href=\"http:\/\/www.ubp.com\/\" rel=\"nofollow noopener\">www.ubp.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Assets under management&nbsp;grew to CHF&nbsp;160.4 billion at the end of 2021, CHF&nbsp;13 billion higher than in 2020 (+8.8%). Revenue&nbsp;rose by 5.9% to CHF&nbsp;1.134 billion. Operating income&nbsp;increased by 11.1% and net earnings were CHF&nbsp;201.2 million, up from CHF&nbsp;181.4 million the previous year (+10.9%). Growth in assets under management, supported by positive markets and strong management performances [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":5269,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-5268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Annual results 2021: Union Bancaire Priv\u00e9e posts net earnings of CHF 201.2 million, up 10.9% - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=5268\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Annual results 2021: Union Bancaire Priv\u00e9e posts net earnings of CHF 201.2 million, up 10.9% - My Blog\" \/>\n<meta property=\"og:description\" content=\"Assets under management&nbsp;grew to CHF&nbsp;160.4 billion at the end of 2021, CHF&nbsp;13 billion higher than in 2020 (+8.8%). 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