Swiss bank UBS reports second-quarter 2021 net profit attributable to shareholders of $2 billion, up 66 percent from a year earlier.
Operating Income was up 21 percent while expenses rose 10 percent, helping the cost/income ratio to fall 4.1 percentage points year-on-year. The bank saw continued momentum in investment flows and volume growth in conjunction with favorable market conditions and investor sentiment, according to a media release on Tuesday.
Invested assets in Global Wealth Management (GWM) and Asset Management rose 4.4 percent from the first quarter to $4.4 trillion, with GWM recorded $25 billion in net new fee-generating assets. The group reported $0.55 diluted earnings per share and a 14.5 percent CET1 ratio.
UBS chief executive Ralph Hamers provided commented: «Momentum is on our side and our strategic choices and initiatives are paying off. And we are eager to make the most of our future.