UBS’s net profit declines 11%

In the second quarter of 2020, the net profit of Union Bank of Switzerland (UBS), the leader of the world and Switzerland in asset management, fell by 11% and equaled $1.2 billion, compared to the same period of 2019, Report informs, referring to foreign media.

Within the reporting period, UBS's operating revenue comprised $7.4 billion (1.7% less than in the previous year), and operating expenditure accounted for $5.8 billion (0.8% more compared to last year). As a final result, the pre-tax return of the Bank diminished by 10% and constituted $1.6 billion.

Over the last year, UBS’s assets swelled by 7.2%, to reach $57 billion.