Private Banks

UBS announces 1Q22 net profit of USD 2.1bn

Citi and United Women Singapore (UWS) have launched a FinTech educational programme to equip young women with fundamental skills and confidence to enter the FinTech industry.

During 1Q22, UBS remained focused on executing strategy.

Sustainability remains an important topic for clients and the bank, and UBS launched a new climate transition fund in collaboration with Aon.

The bank saw USD 8bn commitments into private markets from its wealth management clients, who benefit from scale to receive institutional-like access and pricing.

UBS also continued to improve it's mobile applications, helping clients connect easily. 

 

Ralph Hamers, UBS’s Group CEO said: “The first quarter was dominated by extraordinary geopolitical and macro events. Against this backdrop, we remained focused on executing our strategic plans, serving our clients and managing risk. We continued to build our ecosystem for the benefit of clients. For example, we launched a number of sustainable finance products, including a climate transition fund with insurance and pension manager Aon. We’ve also made it easier for clients to access our services with improvements in biometric logins, handling times, and foreign transaction rate transparency in mobile payments. To make us even better at responding to our clients’ needs, we’re removing silos in how we work and bringing different types of expertise together: 10,000 colleagues are now part of our new, agile way of working. And we’ve continued to support hybrid, including an updated approach in the US that provides eligible employees the opportunity to work 100% remotely. As clients turned to us for advice on how to navigate this challenging environment, we remained close to them, providing research, advice and guidance in their investment decisions. And with volatile markets driving trading volumes, we facilitated high volumes of trades, managed risk and provided access to liquidity, resulting in our highest Global Markets revenues on record. At the same time, we prudently managed our own risks. Working together across our businesses and control functions, we further reduced our exposures to Russia. All this led to our strong financial results this quarter. And we’ll continue to capture opportunities to drive growth while executing on our strategic plans as well as our vision to convene THE global ecosystem for investing.”

 

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