HSBC, UBS Report Earnings

HSBC, UBS Report Earnings

HSBC reported an adjusted pre-tax profit of $6.5bn vs. $5.5bn a last year, and beat estimates of a $6bn results during its Q3 release. Revenues rose 28% YoY to $14.3bn with the benefit of higher interest rates being felt across all of its businesses. The banking major...
UBS to Buyback €2.75bn of Bonds Issued Pre-CS Deal; Seeks Termination of CSFB Deal

UBS Scraps $1.4bn Wealthfront Deal

Swiss banking major UBS Group and US-based Robo-adviser Wealthfront have mutually terminated a $1.4bn deal which was expected to go through by 2H 2022. Earlier this year, UBS Americas announced that it would acquire Wealthfront in an all-cash transaction to expand...
UBS to Buyback €2.75bn of Bonds Issued Pre-CS Deal; Seeks Termination of CSFB Deal

UBS, Santander Report Strong Results

UBS reported a Q1 2022 net profit of $2.1bn, a 17% YoY rise. This follows a drop in Q4 net profit to $1.35bn at the end of the last year. Reuters notes that this is UBS’s best first quarter profit in 15 years. The results came despite its large Global Wealth...
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