- Assets under management were CHF 140.3 billion at the end of 2019, up 10.6% 
  (CHF 13.5 billion) for the year. 
- Net inflows were positive, showing an increase of CHF 4.5 billion for the 
  year. 
- Net earnings came to CHF 187.8 million, compared with CHF 202.4 million the 
  previous year.

Strengthening the operational and commercial offering

Assets under management reached CHF 140.3 billion, a rise of 10.6% from 2018. 
This increase is attributable to favourable markets and the strong performances 
of our managed mandates, as well as substantial net capital inflows (CHF 4.5 
billion), mainly from private but also from institutional clients. Our Asian 
entities contributed strongly to UBP's organic growth in 2019, as did the Near 
and Middle East as well as Eastern Europe. Substantial investments were also 
made in the London, Luxembourg, Monaco and Zurich entities, for both the 
institutional and the private client segments.

Logo - https://photos.prnasia.com/prnh/20200123/2700530-1LOGO

Revenues showed a slight increase (+0.6%) to CHF 1.07 billion. The net interest 
margin remained stable (-0.7%) despite the impact of negative interest rates. 
Brokerage grew by 8%, while lack of volatility in the currency markets resulted 
in a 12% drop in FX transactions.

Operating expenses grew 3.9% to CHF 725.2 million as resources were allocated 
to our London and Luxembourg entities (in relation to ACPI and Carnegie), but 
also due to significant investments in the digital arena.

Net earnings were CHF 187.8 million, compared with CHF 202.4 million the 
previous year (-7.2%). The 2019 result includes the sale of real estate 
property in London as well as the payment of USD 14 million to the US 
Department of Justice as part of the Swiss Bank Program. The cost/income ratio 
was 67.9%, compared with 65.8% in 2018.

"Our industry is facing major challenges such as negative interest rates, 
margin pressure, new competitors, and digital development. It is, therefore, 
vital that we continuously anticipate, innovate and adapt our offering to the 
fast-changing requirements of both private and institutional clients, as 
demonstrated by our successful private market product offering," says UBP's 
CEO, Guy de Picciotto.

Strong fundamentals

The balance sheet total has remained stable, at CHF 32.8 billion as at 31 
December 2019 (CHF 32.6 billion a year before), and the Tier 1 ratio, at 25.6%, 
is substantially in excess of both Basel III and FINMA minimum requirements. 
Our short-term liquidity coverage ratio stands at 316.4%.

UBP is an extremely well-capitalised bank, and one with the means to further 
continue developing in Switzerland and abroad.

Click here(https://photos.prnasia.com/prnh/20200123/2700530-1) to view the 
complete Financial Results.

About Union Bancaire Privee (UBP)

UBP is one of Switzerland's leading private banks, and is among the 
best-capitalised, with a Tier 1 ratio of 25.6%. The Bank is specialised in the 
field of wealth management for both private and institutional clients. It is 
based in Geneva, employs 1,743 people in over twenty locations worldwide, and 
holds some CHF 140.3 billion in assets under management (numbers as at 31 
December 2019).

www.ubp.com

SOURCE: Union Bancaire Privee, UBP