UBS Logs Wealth AuM Inflows; Profits Blunted Slightly By "Challenging" Conditions

Tom Burroughes Group Editor 23 October 2019

UBS Logs Wealth AuM Inflows; Profits Blunted Slightly By

Transaction-based income rose by 14 per cent, while net interest income fell by 3 per cent.

Net new wealth management money came in at $15.7 billion; the net new money growth rate was 2.5 per cent, UBS said.

For the nine months to 30 September, UBS said its global wealth business logged $12.2 billion in operating income, down from $12.656 billion in the same period for 2018; operating costs were $9.571 billion, against $9.729 billion.

The group had a Common Equity Tier 1 capital ratio – a standard measure of a bank’s capital buffer – of 13.1 per cent; return on CET1 capital was 12.1 per cent. 

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