Fabrice Coffrini | AFP | Getty Images
UBS reported its 4th fourth results connected Wednesday, with nett profits beating analysts' forecasts.
The Swiss banking giant's fourth-quarter results connection showed nett net attributable to shareholders came successful astatine $1.2 cardinal successful the last 3 months of the year. That was up connected analysts' estimated $919 million, and was a alteration from the erstwhile quarter's nett net of $2.5 billion.
Overall, its radical revenues were $12.1 cardinal for the last 4th of the year, which was successful enactment with the $12.1 cardinal forecast by analysts. It was besides down from $12.8 cardinal successful the erstwhile quarter, and up from $11.6 cardinal for the aforesaid play a twelvemonth ago.
UBS.
Meanwhile, UBS' communal equity tier (CET) 1 superior ratio — a gauge of a bank's solvency — was 14.4% for the 4th quarter, compared to 14.8% successful the erstwhile quarter.
CEO Sergio Ermotti — who is preparing to measurement down from his relation arsenic caput of Switzerland's largest lender successful April adjacent twelvemonth erstwhile its absorption of Credit Suisse is concluded — said the slope made "great progress" connected "one of the astir analyzable integrations successful banking history."
Ermotti returned to the helm successful 2023 to oversee the government-led exigency takeover of the UBS' stricken Swiss rival.
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