Financial Results
UBS' Wealth Arm Reports Rise In Q2 2018
UBS released its second quarter results - and there was a rise in operating income and net profit.
UBS Global Wealth Management reported a net profit before tax of SFr1.084 billion ($1.09 billion) in its Q2 2018 results, which is a rise of seven per cent year-on-year.
The wealth arm’s operating income came in at SFr4.157 billion for second quarter 2018, a rise from SFr3.959 billion in 2017.
The adjusted cost/income ratio was 74 per cent.
It reported net new money outflows of SFr1.2 billion for the quarter, which included seasonal tax-related outflows in the US of around SFr 4.6 billion and a single outflow of around SFr4.4 billion in the Americas from a corporate employee share program.
Adjusted net margin stood at 19 basis points.
Overall, UBS logged an adjusted net profit before tax of SFr1.808 billion for Q2 2018, which stood at SFr1.675 in 2017.
And the adjusted cost/income ratio for the group was 76 per cent
