Union Bancaire Privée (UBP) has reported a 10 per cent year-on-year rise in its assets under management to CHF87.7bn (USD98.6bn) as at 31 December 2013 from CHF80bn at the end of 2012.
The group’s operating profit came to CHF218.3m (USD245.5m), up more than 20 per cent on the previous year.
UBP’s consolidated net profit came to CHF152m (USD171m) after provisions compared with CHF175m at the end of 2012.
The increase in the operating result is attributable to net inflows of funds from private and institutional clients, as well as to sound asset management performances and to the effects of the post-acquisition synergies.
The bank’s financial base is sound, with a Tier 1 ratio of 29 per cent, making it one of the best-capitalised Swiss banks.
“In the midst of the industry’s mutations and consolidations, UBP can rely on its sound client-acquisition strategy, its high-performance range of products and efficient services, and its teams’ unwavering efforts to meet all its clients’ needs,” says Guy de Picciotto, UBP’s chief executive.