ZURICH - UBS Group cut profitability targets on Tuesday as Switzerland's largest bank grapples with ultra-low interest rates and increased competition for wealthy clients.
The bank reported a 129 per cent rise in net profit for the final quarter of 2019, but that performance benefited from a comparison with the final months of 2018 when a market rout hurt earnings. Profit for the full year fell 5 per cent. Credit Suisse Group, Switzerland's second-biggest bank and UBS' main rival, in December lowered its profitability targets after reaching a 7.8 per cent return on equity in the first nine months of 2019, as compared to UBS' 7.9 per cent for the full year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UBS cuts mid-term targets after 2019 profit dropZURICH: UBS cut profitability targets on Tuesday (Jan 21) as Switzerland's largest bank grapples with ultra-low interest rates and increased ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Money FM Podcast: Singapore Economic Development Board's review of 2019. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
International tourism growth slows in 2019: UNThe rise in the number of international tourist arrivals slowed to 4.0 percent in 2019, its slowest rate since 2016 due to a cooling global economy, geopolitical tensions and uncertainty regarding Brexit, the World Tourism Organization said Monday. The Madrid-based UN body, UNWTO, predicted global tourism
Source: YahooSG - 🏆 3. / 71 Read more »
Victims lose over $987k to iTunes and Google Play gift card e-mail scams targeting businesses since Jan 2019SINGAPORE - Police on Monday (Jan 20) warned businesses against falling for e-mail impersonation scams involving iTunes and Google Play cards, with more than $987,000 lost since January 2019.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
UBS cuts mid-term targets after 2019 profit dropZURICH: UBS cut profitability targets on Tuesday (Jan 21) as Switzerland's largest bank grapples with ultra-low interest rates and increased ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Subaru sets mid-2030s target to sell only electric vehicles worldwideJapan's Subaru Corp set a target on Monday for all the vehicles it sells worldwide to be electric by the first half of the 2030s, in a move ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »