{"id":17341,"date":"2025-01-27T21:58:27","date_gmt":"2025-01-27T14:58:27","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=17341"},"modified":"2025-01-27T21:58:27","modified_gmt":"2025-01-27T14:58:27","slug":"union-bancaire-privee-increases-its-group-profit-to-chf-257-4-million-in-2024","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=17341","title":{"rendered":"Union Bancaire Priv\u00e9e increases its group profit to CHF 257.4 million in 2024"},"content":{"rendered":"<p><span class=\"legendSpanClass\"><span class=\"xn-location\">GENEVA<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Jan. 27, 2025<\/span><\/span> \/PRNewswire\/ &#8212;\u00a0<\/p>\n<ul type=\"disc\">\n<li>UBP realised a <i>group profit<\/i> of <span class=\"xn-money\">CHF 257.4 million<\/span> in 2024, marking a substantial increase of 15.0% from the CHF\u00a0223.8 million achieved in 2023.<\/li>\n<li>The\u00a0<i>operating result<\/i> was <span class=\"xn-money\">CHF 312.4 million<\/span>, up 16.0% from the previous year&#8217;s <span class=\"xn-money\">CHF 269.2 million<\/span>.<\/li>\n<li><i>Client assets<\/i> grew by <span class=\"xn-money\">CHF 14.4 billion<\/span> (+10.3%) to <span class=\"xn-money\">CHF 154.4 billion<\/span>.<\/li>\n<li>The Group&#8217;s\u00a0<i>Tier 1 capital ratio<\/i> stood at 28.9%.<\/li>\n<\/ul>\n<p>The Bank&#8217;s\u00a0<i>total income<\/i> for the year was CHF\u00a01.342 billion, representing growth of 9.4% compared with CHF\u00a01.227 billion in 2023. This was fuelled by a 5% increase in <i>fees and commissions <\/i>driven not only by the rise in client assets but also by heightened brokerage activity among private clients (particularly in structured products). The rise in income was also achieved thanks to the <i>net result from interest operations<\/i> increasing by a robust <span class=\"xn-money\">CHF 81.4 million<\/span> (+20.3%), reflecting the relevance of our interest rate hedging strategy.<\/p>\n<p><i>Client assets<\/i>\u00a0grew by 10.3% to <span class=\"xn-money\">CHF 154.4 billion<\/span> at the end of <span class=\"xn-chron\">December 2024<\/span>, compared with <span class=\"xn-money\">CHF 140.0 billion<\/span> at the end of 2023, reflecting the strong performances of our investment solutions supported by global financial markets, as well as a positive exchange rate impact. <i>Net new money <\/i>from private clients (CHF\u00a0+1.7 billion) was largely offset by outflows from large institutional clients taking profits, as well as the termination of partnerships with external fund managers.<\/p>\n<p><i>Operating expenses<\/i>\u00a0rose to <span class=\"xn-money\">CHF 908.9 million<\/span> (+9.1%), due to our continuous recruitment efforts in 2024, substantial investments in technology, and costs related to the acquisitions of Societe Generale Private Banking (<span class=\"xn-location\">Switzerland<\/span>) Ltd and SG Kleinwort Hambros.<\/p>\n<p>The <i>operating result<\/i> increased to <span class=\"xn-money\">CHF 312.4 million<\/span>, a 16.0% growth from <span class=\"xn-money\">CHF 269.2 million<\/span> in 2023, and the <i>group profit<\/i>\u00a0for 2024 was CHF\u00a0257.4 million, up 15.0% from CHF\u00a0223.8 million a year earlier, resulting in a stable <i>operating<\/i> <i>cost\/income ratio<\/i> of 67.7%.<\/p>\n<p>With a <i>balance sheet <\/i>of CHF\u00a040.9 billion as at the end of <span class=\"xn-chron\">December 2024<\/span>, UBP continues to maintain the firm financial foundations upon which to build its organic and external development.<\/p>\n<p>The Group&#8217;s <i>Tier 1 capital ratio<\/i> remained stable at 28.9%, well above the minimum requirement under FINMA regulations and the Basel III accords. The short-term<i> liquidity coverage ratio (LCR<\/i>) \u2013 of 351.3%,\u00a0up from 313.9% a year earlier \u2013 and Moody&#8217;s decision to maintain its Aa2 long-term deposit rating underscore UBP&#8217;s financial strength.<\/p>\n<p>&#8220;Our solid results clearly demonstrate UBP&#8217;s ability to offer our private and institutional clients attractive investment solutions as well as the best quality of service. Client activity levels and net interest income remained strong\u00a0in 2024, supported by a favourable financial environment. We continued to invest in our operations and infrastructure to meet the requirements of an increasingly complex regulatory environment. We also mobilised our resources to prepare for the integration of our two latest acquisitions, expected at the end of January in <span class=\"xn-location\">Switzerland<\/span> and at the end of March in the UK, which will enable us to further expand our offering to clients thanks to the complementary strengths of our teams.&#8221; states <b>UBP&#8217;s CEO, <span class=\"xn-person\">Guy de Picciotto<\/span><\/b>.<\/p>\n<p>About Union Bancaire Priv\u00e9e (UBP)<\/p>\n<p>UBP is one of <span class=\"xn-location\">Switzerland&#8217;s<\/span> leading private banks, and among the best-capitalised, with a Tier 1 capital ratio of 28.9%. The Bank is specialised in the field of wealth management for both private and institutional clients. Headquartered in <span class=\"xn-location\">Geneva<\/span>, UBP employs 2,140 people in over twenty locations worldwide and holds\u00a0CHF\u00a0154.4 billion in client assets (numbers as at <span class=\"xn-chron\">31 December 2024<\/span>).<\/p>\n<p><a href=\"http:\/\/www.ubp.com\/\" target=\"_blank\" rel=\"nofollow\">www.ubp.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">GENEVA<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Jan. 27, 2025<\/span><\/span> \/PRNewswire\/ &#8212;\u00a0<\/p>\n<ul type=\"disc\">\n<li>UBP realised a <i>group profit<\/i> of <span class=\"xn-money\">CHF 257.4 million<\/span> in 2024, marking a substantial increase of 15.0% from the CHF\u00a0223.8 million achieved in 2023.<\/li>\n<li>The\u00a0<i>operating result<\/i> was <span class=\"xn-money\">CHF 312.4 million<\/span>, up 16.0% from the previous year&#8217;s <span class=\"xn-money\">CHF 269.2 million<\/span>.<\/li>\n<li><i>Client assets<\/i> grew by <span class=\"xn-money\">CHF 14.4 billion<\/span> (+10.3%) to <span class=\"xn-money\">CHF 154.4 billion<\/span>.<\/li>\n<li>The Group&#8217;s\u00a0<i>Tier 1 capital ratio<\/i> stood at 28.9%.<\/li>\n<\/ul>\n<p>The Bank&#8217;s\u00a0<i>total income<\/i> for the year was CHF\u00a01.342 billion, representing growth of 9.4% compared with CHF\u00a01.227 billion in 2023. This was fuelled by a 5% increase in <i>fees and commissions <\/i>driven not only by the rise in client assets but also by heightened brokerage activity among private clients (particularly in structured products). The rise in income was also achieved thanks to the <i>net result from interest operations<\/i> increasing by a robust <span class=\"xn-money\">CHF 81.4 million<\/span> (+20.3%), reflecting the relevance of our interest rate hedging strategy.<\/p>\n<p><i>Client assets<\/i>\u00a0grew by 10.3% to <span class=\"xn-money\">CHF 154.4 billion<\/span> at the end of <span class=\"xn-chron\">December 2024<\/span>, compared with <span class=\"xn-money\">CHF 140.0 billion<\/span> at the end of 2023, reflecting the strong performances of our investment solutions supported by global financial markets, as well as a positive exchange rate impact. <i>Net new money <\/i>from private clients (CHF\u00a0+1.7 billion) was largely offset by outflows from large institutional clients taking profits, as well as the termination of partnerships with external fund managers.<\/p>\n<p><i>Operating expenses<\/i>\u00a0rose to <span class=\"xn-money\">CHF 908.9 million<\/span> (+9.1%), due to our continuous recruitment efforts in 2024, substantial investments in technology, and costs related to the acquisitions of Societe Generale Private Banking (<span class=\"xn-location\">Switzerland<\/span>) Ltd and SG Kleinwort Hambros.<\/p>\n<p>The <i>operating result<\/i> increased to <span class=\"xn-money\">CHF 312.4 million<\/span>, a 16.0% growth from <span class=\"xn-money\">CHF 269.2 million<\/span> in 2023, and the <i>group profit<\/i>\u00a0for 2024 was CHF\u00a0257.4 million, up 15.0% from CHF\u00a0223.8 million a year earlier, resulting in a stable <i>operating<\/i> <i>cost\/income ratio<\/i> of 67.7%.<\/p>\n<p>With a <i>balance sheet <\/i>of CHF\u00a040.9 billion as at the end of <span class=\"xn-chron\">December 2024<\/span>, UBP continues to maintain the firm financial foundations upon which to build its organic and external development.<\/p>\n<p>The Group&#8217;s <i>Tier 1 capital ratio<\/i> remained stable at 28.9%, well above the minimum requirement under FINMA regulations and the Basel III accords. The short-term<i> liquidity coverage ratio (LCR<\/i>) \u2013 of 351.3%,\u00a0up from 313.9% a year earlier \u2013 and Moody&#8217;s decision to maintain its Aa2 long-term deposit rating underscore UBP&#8217;s financial strength.<\/p>\n<p>&#8220;Our solid results clearly demonstrate UBP&#8217;s ability to offer our private and institutional clients attractive investment solutions as well as the best quality of service. Client activity levels and net interest income remained strong\u00a0in 2024, supported by a favourable financial environment. We continued to invest in our operations and infrastructure to meet the requirements of an increasingly complex regulatory environment. We also mobilised our resources to prepare for the integration of our two latest acquisitions, expected at the end of January in <span class=\"xn-location\">Switzerland<\/span> and at the end of March in the UK, which will enable us to further expand our offering to clients thanks to the complementary strengths of our teams.&#8221; states <b>UBP&#8217;s CEO, <span class=\"xn-person\">Guy de Picciotto<\/span><\/b>.<\/p>\n<p>About Union Bancaire Priv\u00e9e (UBP)<\/p>\n<p>UBP is one of <span class=\"xn-location\">Switzerland&#8217;s<\/span> leading private banks, and among the best-capitalised, with a Tier 1 capital ratio of 28.9%. The Bank is specialised in the field of wealth management for both private and institutional clients. Headquartered in <span class=\"xn-location\">Geneva<\/span>, UBP employs 2,140 people in over twenty locations worldwide and holds\u00a0CHF\u00a0154.4 billion in client assets (numbers as at <span class=\"xn-chron\">31 December 2024<\/span>).<\/p>\n<p><a href=\"http:\/\/www.ubp.com\/\" target=\"_blank\" rel=\"nofollow\">www.ubp.com<\/a><\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-17341","post","type-post","status-publish","format-standard","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/17341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17341"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/17341\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}