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...
UBS Reports $2.3bn in Q3 Profits, Beats Expectations
UBS Group reported a 9% YoY jump in its Q3 net profits at $2.3bn vs. expectations of a $1.6bn. The Swiss-based bank’s wealth management division provided a significant boost again with its profit before taxes (PBT) growing 43% to $1.5bn. During Q2, the division...
