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Wealth management sends UBS profits soaring


Wealth management sends UBS profits soaring
July 21, 2021
Zurich: Swiss banking giant UBS said on Tuesday its second quarter profits leapt 63 percent on the back of a strong performance by its wealth management division.
The net profit of $2 billion (1.7 billion euros) was well above the $1.4 billion forecast by Swiss agency AWP. Operating income, the equivalent of revenue, jumped 21 percent to $8.9 billion, UBS said in a statement.
Pre-tax profits on its wealth management business, the bank´s traditional pillar, surged 47 percent from the same period a year ago to $1.2 billion, driven by the good performance of the financial markets and an increase in commissions. ....

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UBS profit jumps as wealth management boom continues

UBS profit jumps as wealth management boom continues
rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.

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UBS extends winning streak in second quarter as wealth management business booms


UBS profit jumps 63% in second quarter as wealth management boom continues
Reuters
19 hrs ago
By Brenna Hughes Neghaiwi
ZURICH (Reuters) - Swiss bank UBS on Tuesday posted a 63% rise in second-quarter net profit, as buoyant markets continued to help the world s largest wealth manager generate higher earnings from managing money for the rich.
Second-quarter net profit of $2.01 billion, up from $1.23 billion in the same quarter a year ago, far outpaced expectations for $1.34 billion in a poll of 20 analysts compiled by the bank.
Our growth in the second quarter was underpinned by the relationships we have built and strengthened throughout the pandemic, Chief Executive Ralph Hamers said in a statement, adding all business divisions and regions had contributed to the rise. ....

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