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 Scraps $1.4bn Wealthfront 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 Scraps $1.4bn Wealthfront 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...
Banco Santander and UBS Report Solid Results

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,...
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