UBS, a Swiss global investment bank, posted a net profit of US$7.6
billion in 2022 despite “difficult macroeconomic and geopolitical environment.”
The Swiss financial services company also reported a profit before task (PBT) of
US$9.6 billion and a diluted earnings per share (EPS) of US$2.25 during the
past year.
UBS disclosed these figures on Tuesday in its full-year and fourth
quarter 2022 results. During the last quarter of 2022, the global bank said it
generated US$1.9 billion in profit before tax with an EPS of US$0.50.
These profits before tax also reflect across UBS’ global wealth
management, personal and corporate banking, asset management and investment
banking businesses. For instance, PBT for the global wealth management business reached US$1 billion in Q4 2022 and $US5 billion during the 2022 financial
year, both representing growth rates of 88% and 4% year-over-year (YoY),
respectively.
However, these “solid” results are despite YoY decreases in UBS’
revenues from the various units of its business. While the company’s revenue from its global wealth management business dropped by 5%, that from the asset management division went down by 31%.
Furthermore, total revenue from UBS’ investment banking activities declined by 24%. On the contrary, revenue from the bank’s personal and corporate banking activities rose by 10%
YoY in 2022.
Watch the recent FMLS22 session on creating partnerships between fintech and banks.
According to UBS, its global wealth management business generated a net
new fee-generating assets of US$17 billion in the past year. The asset
management unit was also able to generate US$21 billion of net new money from the
region, the financial services company said.
In Switzerland, where the global investment bank is headquartered, UBS said it posted record loan and deposit volumes as the firm maintained its
position as the top bank in the country. This is even as UBS generated US$7
billion net new loans and US$9 billion net new deposits from a combination of
its global wealth management and personal and corporate banking
businesses.
Furthermore, in Europe, Middle East and Africa, UBS said its net new
fee-generating assets reached US$20 billion. The global bank also noted that it
sold its domestic wealth management business in Spain during the past year.
In addition, the Swiss company reported significance performance from its business
activities in the Asia Pacific (APAC) region, generating US$14 billion in net
new fee-generating assets during the period.
Speaking on its performance, UBS noted that its “unwavering commitment”
to its clients made it possible to “maintain positive momentum across the firm” in
the past year.
“Against this backdrop, we attracted USD 60bn in net new fee-generating
assets in global wealth management for the full year, USD 25bn of net new money in asset management (of which USD
26bn in Money Market), and CHF 2bn of net new investment products for
Personal Banking, an 8% growth rate,” UBS explained.
UBS, a Swiss global investment bank, posted a net profit of US$7.6
billion in 2022 despite “difficult macroeconomic and geopolitical environment.”
The Swiss financial services company also reported a profit before task (PBT) of
US$9.6 billion and a diluted earnings per share (EPS) of US$2.25 during the
past year.
UBS disclosed these figures on Tuesday in its full-year and fourth
quarter 2022 results. During the last quarter of 2022, the global bank said it
generated US$1.9 billion in profit before tax with an EPS of US$0.50.
These profits before tax also reflect across UBS’ global wealth
management, personal and corporate banking, asset management and investment
banking businesses. For instance, PBT for the global wealth management business reached US$1 billion in Q4 2022 and $US5 billion during the 2022 financial
year, both representing growth rates of 88% and 4% year-over-year (YoY),
respectively.
However, these “solid” results are despite YoY decreases in UBS’
revenues from the various units of its business. While the company’s revenue from its global wealth management business dropped by 5%, that from the asset management division went down by 31%.
Furthermore, total revenue from UBS’ investment banking activities declined by 24%. On the contrary, revenue from the bank’s personal and corporate banking activities rose by 10%
YoY in 2022.
Watch the recent FMLS22 session on creating partnerships between fintech and banks.
According to UBS, its global wealth management business generated a net
new fee-generating assets of US$17 billion in the past year. The asset
management unit was also able to generate US$21 billion of net new money from the
region, the financial services company said.
In Switzerland, where the global investment bank is headquartered, UBS said it posted record loan and deposit volumes as the firm maintained its
position as the top bank in the country. This is even as UBS generated US$7
billion net new loans and US$9 billion net new deposits from a combination of
its global wealth management and personal and corporate banking
businesses.
Furthermore, in Europe, Middle East and Africa, UBS said its net new
fee-generating assets reached US$20 billion. The global bank also noted that it
sold its domestic wealth management business in Spain during the past year.
In addition, the Swiss company reported significance performance from its business
activities in the Asia Pacific (APAC) region, generating US$14 billion in net
new fee-generating assets during the period.
Speaking on its performance, UBS noted that its “unwavering commitment”
to its clients made it possible to “maintain positive momentum across the firm” in
the past year.
“Against this backdrop, we attracted USD 60bn in net new fee-generating
assets in global wealth management for the full year, USD 25bn of net new money in asset management (of which USD
26bn in Money Market), and CHF 2bn of net new investment products for
Personal Banking, an 8% growth rate,” UBS explained.