2023-07-23 14:28:22
Published on July 23, 2023 at 4:28 p.m. Modified on July 23, 2023 at 7:54 PM.
As usual, Union Bancaire Privée (UBP) was the first management bank to publish its half-year results on Friday. They indicate that the rise in interest rates in 2022 continues to support results. This should be the case for all players in the sector. To what extent? A review of the effect of rates in 2022 provides some indications.
For the first half of 2023, UBP posted stable assets under management compared to the end of 2022, at 140.6 billion francs. The net profit of the establishment of the De Picciotto family fell by 1.6%, to 110.8 million, for an operating profit before tax up by 0.8%, to 138 million. It is above all in terms of the composition of income that this half-year stood out from the first six months of 2022. For one reason mainly: the rise in interest rates. In the United States, the fed funds went from 0 to 4.25-4.5% over the past year.
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