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UBS reports a 137% jump in profit, but has concerns over economic recovery – CNBC
UBS posted net income of $1.71 billion for the fourth quarter of 2020, driven by its wealth management and asset management divisions.
LONDON UBS, the world’s largest wealth manager, has reported net income of $1.71 billion for the fourth quarter of 2020, a 137% jump on the year before.
Analysts had expected income to come in at $967 million for the three-month period, according to Refinitiv. It comes after the Swiss bank reported net income of $2.1 billion for the third quarter of last year.
Double-digit profit growthin UBS’ wealth management and asset management divisions contributed to the quarterly performance.
The bank also…
