UBS reports Q2 net profit at $2.01B, up 63% YoY

Tuesday, 20. July 2021 06:53

UBS Group AG said on Tuesday its profit before tax in the second quarter of 2021 jumped 63% per annum to $2.59 billion, while net climbed 63% to $2.01 billion. Earnings per share in the same period were $0.55. The group said that its return on Common Equity Tier 1 capital stood at 19.3%, with CET1 capital ratio at 14.5%.

Per segment, Global Wealth Management posted a profit before tax at $1.29 billion, up 47% on a yearly basis. Personal & Corporate Banking's profit doubled to approximately $496 million. Asset Management's grew 62% YoY to $255 million, while Investment Bank's advanced 9% to $668 million.

"We sustained our business momentum in 2Q21 as we continued to be a trusted partner for clients. Our focus on growth, relentless execution and evolution of our strategic initiatives drove strong financial performance across all businesses, resulting in a pre-tax profit of USD 2.6bn," CEO Ralph Hamers said.

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Breaking the News / MD