Home / Business & Finance (page 30)

Category Archives: Business & Finance

Feed Subscription


Khyber Pakhtunkhwa Governor Iqbal Zafar Jhagra has said the government is taking concrete steps for uplift of socio-economic condition of tribal people.Presiding over a meeting in Peshawar today, he said the government has introduced reforms to bring ...

Read More »

‫بنك Union Bancaire Privée يكشف عن قوة نتائجه للنصف الأول من العام بزيادة في صافي الربح أكثر من 20% محققاً 110 ملايين فرنك سويسري

نتائج النصف الأول لعام 2017 جنيف، 20 يوليو 2017 بلغ صافي الربح 109.5 ملايين بنهاية يونيو 2017 مقارنةً مع 89.9 مليون فرنك سويسري بالعام الماضي محققًا زيادة قدرها 6%. بلغ إجمالي الأصول تحت الإدارة 118.9 مليار فرنك سويسري في النصف الأول من السنة. تعزيز النتائج بفضل قوة الأنشطة التشغيلية شهدت الإيرادات التشغيلية ارتفاعًا بمقدار 12.5% […]

Read More »

Union Bancaire Privée announces strong first half-year results; increasing net profit by more than 20% to CHF 110 million

Press release 

First half-year results 2017

Union Bancaire Privée announces strong first half-year results; increasing net profit by more than 20% to CHF 110 million

Geneva, 20 July 2017

  • Net profit at the end of June 2017 was CHF 109.5 million, up 21.6% from CHF 89.9 million a year earlier.
  • Assets under management totalled CHF 118.9 billion at the half-year.

Strong operational activity boosts results

Operating revenues grew by 12.5% year on year, from CHF 452.9 million at mid-year 2016 to CHF 509.5 million at the end of June 2017. The net interest margin increased by 18.5% to CHF 139.3 million supported, among other factors, by higher US dollar interest rates. The growth in commissions of more than 10%, although helped by the strength of the markets, also attests to the rising amount of private client assets in advisory mandates.

Operating expenses increased by 9.9% between June 2016 and June 2017, rising from CHF 294.5 million to CHF 323.7 million, due to the integration of Coutts in Asia which was finalised in April 2016. Strong cost management enabled UBP to improve its cost/income ratio (excluding depreciation and provisions), to 63.5% at the end of June 2017, compared with 67.9% at the end of December 2016.

Operating profit was CHF 133.7 million at the end of June, up from CHF 110.5 million a year earlier – an increase of CHF 23 million (21.2%).

Assets under management remained stable at CHF 118.9 billion (CHF 118.3 billion at the end of 2016). Strong performance of those assets, underpinned by favourable market conditions, made up for the negative effects of exchange rates during the first half of the year (CHF -3.3 billion). The Asset Management division continued to grow organically, with inflows totalling CHF 1.6 billion at the end of June. These inflows offset the outflows resulting from the latest wave of tax regularisation programmes, mainly impacting European and Latin American private clients.

The Tier 1 ratio, at 26%, remains well above the minimum requirement stipulated under Basel III and by the FINMA.

“The numbers from the first half of the year have been very encouraging. While we have benefited from positive market movements, the hard work and dedication of our teams in offering our clients innovative solutions have played a significant role in achieving this set of results. They also reflect the substantial investments we have recently made in strengthening our teams and demonstrate the dynamism of our activities in Asia,” said UBP’s CEO, Guy de Picciotto.

For any further information

Bernard Schuster                                                    
Group Head Communications (spokesman)                   
Tel.: +41 58 819 24 70, e-mail: bernard.schuster@ubp.ch

Maude Hug

Head of Media Relations

Tel.: +41 58 819 75 27, e-mail: maude.hug@ubp.ch

About Union Bancaire Privée (UBP)
UBP is one of Switzerland’s leading private banks, and is among the best-capitalised, with a Tier 1 capital ratio of 26% as at 30 June 2017. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 1,694 people in over twenty locations worldwide; it held some CHF 118.9 billion in assets under management as at 30 June 2017. (www.ubp.com)


UBP is authorised and regulated in Switzerland by the Swiss Financial Market Supervisory Authority and is authorised in the United Kingdom by the Prudential Regulation Authority. UBP is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority.


Read More »

Al-Othaimeen affirms OIC’s support for Iraq to rebuild liberated cities

Jeddah (IINA) � Iraqi Foreign Minister Dr. Ibrahim Al-Jaafari received a written message from Secretary General of the Organization of Islamic Cooperation (OIC) Dr. Yousef Al-Othaimeen.

The letter was delivered by OIC Director General for Political Affairs Ambassador Tariq Bakheet, at the headquarters of Iraqi Foreign Ministry in Baghdad on Tuesday.

In his letter, the secretary general renewed his congratulation to the government and people of Iraq on the victory over Daesh in the city of Mosul. He also reaffirmed the OIC's commitment to support Iraq in its efforts to reconstruct Mosul and other liberated cities.

Al-Othaimeen underlined the OIC's endeavors to achieve national reconciliation among all sects and components of the Iraqi people in coordination with the government of Iraq through convening a national reconciliation meeting in Baghdad at the initiative of the OIC, known as Makkah II Conference. He further reiterated the OIC's firm position in support of the unity, sovereignty and territorial integrity of Iraq.

For his part, Foreign Minister Jaafari welcomed the message of the secretary general and praised the support that Iraq receives from the OIC and its different institutions. He also emphasized the OIC's important role in combating terrorism and extremism.

Ambassador Bakheet and his accompanying delegation also met with Secretary General of the Iraqi Council of Ministers Dr. Mahdi Al-Alaq and discussed possible means to support Iraq in the reconstruction phase.

Source: International Islamic News Agency

Read More »
Scroll To Top