Swiss global investment bank UBS reveals 2022 revenue details
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Yet another performance report came out, revealing the earnings and performance in 2022, this time for the global investment bank UBS, based in Switzerland. However, the details of the bank’s report are quite interesting, as it saw a total net profit of $7.6 billion in 2022, despite the difficult macroeconomic and geopolitical environment.
Furthermore, the company reported that its profit before tax was $9.6 billion, while the diluted earnings per share ended up being $2.25 in 2022. The figures were disclosed on Tuesday, January 31st, in the financial services company’s full-year and Q4 2022 report.
UBS notes an excellent performance in Q4
The last quarter of 2022 has been excellent for the bank, which generated $1.9 billion in profits before tax, with earnings per share sitting at $0.50. The figures reflect across the bank’s global wealth management, asset management, personal and corporate banking, as well as investment banking. For example, the PBT (profits before taxes) reached $1 billion in Q4 2022 alone, and $5 billion in the fiscal year of 2022.
Both of these figures show a significant growth rate of 88% and 4% YoY, respectively. But, despite the seemingly solid results, the company has started seeing YoY drops when it comes to revenues from separate units of its business. The total revenue has performed well, but the revenue coming from the bank’s global wealth management business was still down by 5% in 2022. Then, asset management saw a decrease of 31%. Investment banking activities also saw a 24% decline.
On the plus side, net worth coming from personal and corporate banking activities saw a considerable 10% increase on the YoY basis, which is encouraging, and a huge contributor to the bank’s solid overall performance.
The bank’s performance in 2022
UBS commented on the results, stating that its global wealth management business generated net new fee-generating assets of $17 billion in 2022. Meanwhile, the asset management unit saw a total of $21 billion of net new money.
UBS also saw record loan and deposit volumes in its home country, and it managed to remain the top bank in Switzerland. On top of that, UBS said that its net new fee-generating assets managed to hit $20 billion in Europe, the Middle East, and Africa. This comes even after the global bank sold its domestic wealth management business in Spain.
Finally, the company’s report underlined a notable performance when it comes to its business activities in the APAC (Asia Pacific) region. It managed to generate $14 billion in net new fee-generating assets throughout the year.
All in all, the bank said that its unwavering commitment to the clients is what made it possible to reach and maintain positive momentum during 2022, despite the backdrop.
