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Banking industry UBS posts net profit of CHF6.2 billion

2015: A brilliant year for UBS

(Reuters)

Swiss bank UBS has experienced a 79% surge in its profit. In its fourth-quarter report, released on Tuesday, the bank announced a net profit of CHF6.2 billion ($5.5 billion) in 2015 over the previous year.

Before tax, adjusted UBS Groupexternal link profit for 2015 was CHF5.6 billion. Its wealth management arm’s pre-tax profit rose by 13% to CHF2.8 billion – its best annual figure since 2008. Personal and corporate banking posted its best adjusted profit since 2010, with CHF1.7 billion.

The bank’s asset management department recorded a 20% year on year increase, bringing its pre-tax profit to CHF610 million. In addition, its investment bank achieved a 31% adjusted return on attributed equity – with a CHF2.3 billion profit.

UBS’s Board of Directors plans to propose a total dividend of CHF0.85 to shareholders at this year’s annual general meeting. It would consist of an ordinary dividend of CHF0.60 per share, reflecting profit for the financial year 2015, and a special dividend of CHF0.25 per share.

“Despite a very challenging environment, we had an excellent year, both in terms of shareholder returns and strengthened client relationships. Going forward, we will continue with the disciplined execution of our strategy while investing for profitable and sustainable growth,” UBS CEO Sergio P Ermotti said in a press release.

The bank released detailed statistics on its websiteexternal link. Here’s the full report:

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UBS was named “Best Global Private Bank” by The Banker/PWM for the third year running as well as “Best Private Bank in Asia” for the fourth year in a row. UBS Investment Bank was named “2015 Bank of the Year” by the International Financing Review, while UBS Asset Management won the 2015 “Index Manager of the Year Award” at the Professional Pensions Investment Awards. For the fourth year running, UBS Switzerland won the 2015 Euromoney prize for “Best Bank in Switzerland”.

In its fourth quarter, UBS says it also increased its commitment to help mitigate climate change by supporting renewable energy and clean-tech transactions – for example, by “not supporting certain coal-mining companies and limiting its lending and capital raising to the sector” and by securing 100% of its electricity from renewable sources by 2020.

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