The Strategist

UBS returns to net profit in Q4

01/22/2019 - 11:42

UBS AG, the largest bank in Switzerland, received a net profit of $ 696 million in the fourth quarter of 2018, compared with a loss of $ 2.42 billion a year earlier.

Analysts assumed that the bank had completed the reporting period with a profit of $ 729 million, according to Reuters.

At the same time, the operating profit of UBS decreased in October — December by 3.3% yoy to $ 6.97 billion.

Recall that the net profit of UBS in the third quarter of 2018 increased by 32% yoy and reached 1.25 billion Swiss francs ($ 1.25 billion). The operating profit of the financial organization increased from 7.15 billion to 7.28 billion francs.

At the same time, the pre-tax profit in the key investment unit for UBS in July — September jumped by 44% in annual terms to 507 million francs.

UBS offered to pay dividends for 2018 in the amount of 0.70 Swiss francs compared to 0.65 francs a year earlier and announced its intention to repurchase shares worth up to $ 1 billion in 2019.