Earnings

UBS Q4 earnings 2021

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LONDON — UBS on Tuesday reported a decline in quarterly profit, but beat analysts’ expectations. The Swiss bank also set ambitious new profitability targets as part of a strategic update.

UBS posted net profit attributable to shareholders of $1.35 billion for the fourth quarter, down from $1.64 billion a year earlier and also lower than the $2.28 billion reported in the previous quarter.

Analysts had forecast UBS to post net income attributable to shareholders of $863 million, according to the consensus published by the bank.

“The fourth quarter was a very good ending to a record year, the best year in 15 years, both from a pre-tax and a post-tax perspective,” CEO Ralph Hamers told CNBC…



Source cnbc.com

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