“This first semester is marked by the realization of the repurchase of the private banking activities of Société Générale in Switzerland and in the United Kingdom,” explains Guy de Picciotto, CEO of the UBP.
- UBP management funds reached 171.7 billion francs at the end of June 2025, an increase of 17.3 billion (+11.2%) compared to the end of December 2024.
- The total of the bank’s products recorded an increase of 9.7% compared to the end of June 2024.
- The group’s benefit was established at CHF 120.7 million at the end of June 2025.
UBP management funds rise to 171.7 billion francs in the first half of 2025, against 154.4 billion at the end of December 2024, or growth of 11.2% (CHF +17.3 billion). This increase is mainly explained by the integration of Société Générale Private Banking (Switzerland) SA and SG Kleinwort Hambros carried out during the first part of the year. It is also due to the performance of assets and funds in a favorable market context (CHF +4.7 billion). This made it possible to compensate for the negative exchange effects, induced mainly by the strong depreciation of the US dollar against the Swiss franc (CHF -13.2 billion). Expressed in USD, funds under management increased by 26.6%, to USD 215.7 billion (against USD 170.4 billion at the end of 2024).
The total of the bank’s products amounts to CHF 736.0 million at the end of June 2025, up 9.7% compared to the end of June 2024 (CHF 670.6 million). This solid dynamic is notably carried by the increase in management funds following recent acquisitions, which allows net profit of interest operations to progress to CHF 265.2 million (+9.1%). The good result of commission operations and services reflects the strong transactional activity of private customers over the period and reached CHF 404.2 million (+9.2%).
The increase in operating expenses (+16.0%) is mainly due to non-recurring costs linked to the two acquisitions made in Switzerland and the United Kingdom. The personnel expenses increase, by their part, by 13.1%, under the effect of the recruitment of new customer responsibilities at the end of 2024 in Asia, the strengthening of the teams of the Departments of Compliance and Risk Management, as well as the current integrations. This reflects the group’s desire to continue its international development in strict compliance with compliance and regulatory standards.
At the end of June 2025, the group’s profit therefore reached CHF 120.7 million, against CHF 138.1 million on the first half of 2024. The total equity remains stable to CHF 2’768.6 million. The short-term liquidity ratio (LCR), which is 294.6%, and the Tier 1 equity ratio, 21.3%, remain far beyond regulatory requirements. These indicators testify to the bank’s ability to maintain the robustness of its equity and its balance sheet after two major transactions.
“This first half is marked by the realization of the repurchase of the private banking activities of Société Générale in Switzerland and in the United Kingdom, the positive effects of which will be fully materialized after the integration of the two entities. These operations are part of the growth strategy of our group aimed at expanding our offer for our private and institutional customers and strengthening our presence in our priority markets. They allow us to display solid results in a context of low dollar, drop in rates, and increased market volatility, “said Guy de Picciotto, CEO of the UBP.