Banco Santander and UBS Report Solid Results
Banco Santander reported its most profitable quarter in 12 years with attributable and underlying profits of €2.3bn, up 5% YoY. Annually, attributable profit stood at €8.1bn vs. €8.8bn loss in 2020. The strong results were driven by a rebound in economic activity,...
DBS Buys Citi’s Taiwan Retail Business; UBS to Buy Wealthfront for $1.4bn
Singapore’s DBS has bought Citigroup’s Taiwan consumer banking assets in a move to improve its presence in the Southeast Asia region. DBS said it will pay cash for its net assets along with a premium of S$956mn ($707mn), funded by excess capital. DBS...
UBS Tax Penalty More Than Halved to €1.8bn
UBS has been ordered by a French appeals court to pay €1.8bn regarding a tax evasion case. in 2019, UBS was found guilty of helping rich clients evade paying tax post which the court ordered a €3.7bn fine and an additional €800m in damages. UBS appealed against it...
