- UBP's net profit in the six months to the end of June 2019 was CHF 117.2 million, up 1.7% from CHF 115.3 million a year earlier. - Assets under management grew by CHF 7.6 billion to CHF 134.4 billion at the end of June 2019. Positive net inflows and increase in assets under management Assets under management rose from CHF 126.8 billion at the end of December 2018 to CHF 134.4 billion at the end of June 2019. That growth was driven by net inflows from private clients, along with the CHF 2.127 billion contributed by Banque Carnegie in Luxembourg, acquired at the start of the year. Good market conditions and solid asset management performance comfortably offset the negative impact resulting from declines in the dollar and euro and from profit-taking by institutional clients in early 2019. Logo - https://photos.prnasia.com/prnh/20190118/2350931-1LOGO Operating revenues fell slightly (-1.3%), from CHF 540.0 million in the first half of 2018 to CHF 533.2 million in the first half of 2019. The decline reflects the ongoing slowdown in trading activity among private and institutional clients in market conditions that are difficult to assess. Operating expenses rose from CHF 341.0 million at the end of June 2018 to CHF 363.9 million at the end of June 2019 due to costs relating to the integration of Banque Carnegie in Luxembourg and the acquisition of ACPI in London, which was finalised at the end of 2018. UBP also made significant investments in its Asian business, as well as in the digital arena over the same period. Net profit amounted to CHF 117.2 million in the first half of 2019, including the sale of a property in London, up 1.7% compared with the year-earlier figure of CHF 115.3 million. The Bank's Tier 1 ratio of 26.1% at the end of June 2019, and its short-term liquidity coverage ratio (LCR) of 301.3% demonstrate its solid financial position and the quality of its balance sheet. "The successful integration of the two recently acquired entities, and of our new teams in Asia, is starting to pay off. The strong returns delivered by our investment solutions and the ongoing growth in assets under management mean that we can look ahead to the second half of 2019 with confidence. This represents a promising backdrop for our ongoing commitment to investing for the future", said UBP's CEO Guy de Picciotto. Click here to view the complete Financial Results: https://photos.prnasia.com/prnk/20190719/2529463-1 About Union Bancaire Privee (UBP) - www.ubp.com UBP is one of Switzerland's leading private banks, and is among the best-capitalised, with a Tier 1 capital ratio of 26.1% as at 30 June 2019. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 1,772 people in over twenty locations worldwide; it held CHF 134.4 billion in assets under management as at 30 June 2019. SOURCE: Union Bancaire Privee, UBP