Union Bancaire Privée (UBP) increased its group profits to over CHF 200 million in 2021.

Group profits were CHF 201.2 million at 31 December 2021, a 10.9 percent increase from the CHF 181.4 million reported a year earlier.

Revenues were up 5.9 percent year-on-year at CHF 1.134 billion, with an increase in commissions making for shrinking net interest margins, the firm said.

Operating expenses were also up. These increase by five percent from CHF 718.4 milli...