UBS: deceptive 'solid' results sanctioned

(CercleFinance.com) - UBS has announced Q4 results on Tuesday, including a 23% increase, which was stronger than expected, in net profit to 1.
65 billion dollars, above the consensus of 1.28 billion dollars.

However, RBC analysts point out that, excluding provisions for litigation, recurrent net profit stands at 1.71 billion dollars, below the consensus.

UBS announced a robust Q4, in a difficult macro-economic and geopolitical context, confirming the relevance of its strategy, management welcomed, saying that equity remained "solid", with a return on CET1 equity of 14.7%.

UBS says that it is starting the year 2023 in "good position", despite the macroeconomic outlook, which is still uncertain, with it planning to offer its shareholders a high return on capital.

However, title fell by up to 3% in early Zurich trading on Tuesday morning following the publication of these figures.


Copyright (c) 2023 CercleFinance.com. All rights reserved.