UBS significantly improves its results in 2020

UBS bank posted net profit of $ 6.63 billion last year, a sharp increase of 54.2%, it said on Tuesday.

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The Zurich establishment will pay a dividend of $ 0.37 to its shareholders, compared to $ 0.73 in 2019.

Operating income rose 12.1% to $ 32.4 billion and pre-tax income also rose, from 47.5% to $ 8.23 ​​billion, the three-key bank said Tuesday in a report. communicated. In global wealth management, UBS attracted 43.3 billion new money.

In the fourth quarter alone, the results of the banking group are just as encouraging. Operating income jumped 15.1% year-on-year to $ 8.1 billion, pre-tax income more than doubled to $ 2.1 billion, as did net profit which reached $ 1, 7 billion.

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The performance between October and the end of December exceeded at all levels and very clearly the forecasts of analysts surveyed by AWP.

“It has been a difficult year for our customers, for our colleagues and for our communities. These results are all the more gratifying, ”said the new CEO Ralph Hamers, who took over UBS in November 2020.

On the strength of these results, the bank will launch this year a share buyback program of a maximum of 4 billion over three years, of which up to 1 billion will be disbursed in the first quarter.

According to the establishment of the Paradeplatz, which took full advantage of market volatility last year, “investor sentiment” improved in the fourth quarter “and the first partial 2021 should benefit” from seasonal factors “, even if the uncertain context linked to the coronavirus pandemic could “weigh on both asset prices and customer activity”.

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