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UBP’s profits dip on increased hiring

News Team, 20/07/2021

Union Bancaire Privée’s (UBP) net profits fell by 6.8 percent in the first half of 2021, as a surge in hiring brought rising costs.

Net profits amounted to CHF 100.2 million in the six months to 30 June 2021, compared with CHF 107.6 million in the same period last year.

Revenues remained stable (up 0.9 percent) at CHF 562.1 million. UBP said this was achieved despite the deterioration in net interest margins, which were offset by a rise in income from fees and commissions....


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