Moreover,
Ubp sees its net profit:
Keystone-SDA
Private Banking Union (UBP) recorded a net profit of 120.7 million francs in the first half of the year, down 12.6% over one year. Meanwhile, The integration of the activities of two acquisitions led to an increase in charges. Therefore, – Ubp sees its net profit
(Keystone-ATS) The operating product increased by 9.7% to 736.0 million, she said in a statement on Thursday. Furthermore, The net profit of interest operations increased to 265.2 million (+9.1%), while commission operations and services brought in 404.2 ubp sees its net profit 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. Meanwhile, Staff costs increased by 13.1%. Moreover, under the effect of the strengthening of teams from the compliance and risk management teams, as well as current integrations, the bank said.
The assets under management have registered sharply, reaching 171.7 billion francs at the end of June, up 17.3 billion (+11.2%) compared to the end of December 2024. This increase is mainly explained by the integration of the activities of Société Générale Private Banking (Switzerland). SG Kleinwort Hambros.
Majority of dollars assets
“The effect of the dollar is important on UBP because the base of assets in American. currency is important. More than 60% of assets are in dollars. There were 13.2 billion assets less just for the exchange. but this was offset by market performance, customer activity ubp sees its net profit and especially the increase in assets under management, “said a spokesman for the Banking Group at the AWP Agency.
“The increase in assets has mechanically carried the management commissions. The brokerage was rather active at the start of the year to slow down in April since Donald Trump’s announcement. “he added. “The best scenario would be for the dollar to appreciate again. But it is necessary to find stability and visibility especially on economic policies and the general geopolitical environment. »»
For 2025, “the perspectives are not negative because the activities are good. We expect a similar context, neither improvement nor degradation ”.
New talents
Regarding the two important acquisitions. “the integration of the Swiss part took place perfectly and the computer migration took place at the end of May in accordance with the plan. For the United Kingdom, integration is underway, to finalize by the end of November, “said the spokesperson.
In terms ubp sees its net profit of recruitment policy, “recent acquisitions have enabled the integration of many talented employees within the bank teams. There is no current recruitment plan apart from the Asia region where we remain very active ”.
Finally in terms of sites, “acquisitions have contributed to the increase in our offices, with Guernsey and Gibraltar for example”.
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