Union Bancaire Privée's client assets rose by more than 11% to CHF 171.7 billion in the first half of 2025
- UBP's client assets amounted to CHF 171.7 billion at the end of June 2025, an increase of CHF 17.3 billion or 11.2% compared with the end of December 2024.
- The Bank's total income rose by 9.7% compared to the first half of 2024.
- Group profit in the six months to end of June 2025 was CHF 120.7 million.
GENEVA, July 17, 2025 /PRNewswire/ -- UBP's client assets totalled CHF 171.7 billion at end of June 2025, compared to CHF 154.4 billion at the end of 2024, representing an increase of 11.2% or CHF 17.3 billion. This growth was driven mainly by the integrations of Societe Generale Private Banking (Suisse) SA and SG Kleinwort Hambros in the first half of 2025. In addition, CHF 4.7 billion of this increase was due to the performance of assets and funds in a positive market environment. These factors offset negative currency effects, mainly caused by the US dollar's rapid decline against the Swiss franc, which had a CHF 13.2 billion negative impact on client assets. In USD terms, client assets rose by 26.6% to USD 215.7 billion, up from USD 170.4 billion at the end of 2024.
Total income amounted to CHF 736.0 million in the first half of 2025, an increase of 9.7% compared with the same period in the prior year (CHF 670.6 million). This solid momentum was driven by the increase in client assets following recent acquisitions, leading to a 9.1% increase in net result from interest operations (CHF 265.2 million). Fees and commissions rose by 9.2% to CHF 404.2 million, reflecting high levels of transactions among private clients.
Total operating expenses rose by 16.0%, mainly because of non-recurring expenses related to the two acquisitions in Switzerland and the United Kingdom. Personnel expenses were up 13.1%, due to the recruitment of new relationship managers in Asia in late 2024, efforts to strengthen teams in the Compliance and Risk Management departments, and the effect of the ongoing integrations. This demonstrates the Group's commitment to continuing its international development while adhering to the strictest global compliance and regulatory standards.
In the first half of 2025, Group profit was CHF 120.7 million compared to CHF 138.1 million in the period the year earlier. Total equity remained stable at CHF 2,768.6 million. The liquidity coverage ratio (LCR) was 294.6% and the Tier 1 capital ratio was 21.3%, both remaining well in excess of regulatory requirements. These indicators demonstrate the Bank's ability to maintain a high level of equity and a robust balance sheet after two major transactions.
"In the first-half period, we completed the acquisition of Societe Generale's private banking activities in Switzerland and the United Kingdom, and the positive effects will materialise after the two entities have been fully integrated. Those transactions form part of our Group's growth strategy, aimed at expanding the products and services we offer to private and institutional clients, whilst also strengthening our presence in priority markets. They also enabled us to post solid results in the context of a weak dollar, falling interest rates and greater market volatility," said Guy de Picciotto, UBP's CEO.
About Union Bancaire Privée (UBP)
Headquartered in Geneva and with more than 30 offices worldwide, UBP is one of the world's largest family-owned private banks, focused exclusively on wealth and asset management for private and institutional clients. UBP manages CHF 171.7 billion in client assets (all figures as at 30 June 2025).
SOURCE Union Bancaire Privée (UBP)
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