Private Banks

UBS announces 2Q21 net profit of USD 2.0bn

UBS reports second-quarter 2021 net profit attributable to shareholders of USD 2 billion, up 63 percent from a year earlier.

UBS has beaten second-quarter earnings expectations. UBS attributed the success to “favorable market conditions and investor sentiment” In its earnings report.

 

Ralph Hamers, UBS’s Group CEO said: “Our growth in the second quarter was underpinned by the relationships we have built and strengthened throughout the pandemic and by the trust our clients placed in our people and in our firm. All business divisions and all regions contributed to our results. Our clients invested more with us – in private markets and separately managed accounts. They came to us to finance their homes and their businesses, and to create liquidity buffers for unforeseen events, all of which led to an increase in net new loans year-on-year. They sought our advice when dealing with industry changes coming out of the pandemic, to digitize their business models and gain scale. And so advisory and capital markets revenues also increased. They continued to seek yield with us and therefore actively engaged in structured products and alternative investments. Invested assets with a sustainability or impact focus saw growth as clients aligned their portfolios with their values. Momentum is on our side and our strategic choices and initiatives are paying off. And we are eager to make the most of the future.”

 

Sustainability remains an important topic for the bank and it's clients, and UBS' Sustainable Investing mandate in GWM attracted USD 8bn of net inflows in 1H21, while invested assets with a sustainability or impact focus in AM increased by 33% since year-end 2020.