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  • You Bs reported its highest annual pretax profit of the post financial crisis era on Tuesday as lending to the world's ultra rich and bumper trading volumes during the global pandemic triggered a surge in revenue.

  • The results beat forecasts thanks to investment gains and lower provisions for expected credit losses.

  • The Swiss bank posted fourth quarter net profit of $1.7 billion nearly double analysts predictions.

  • UPS, the world's largest wealth manager, derives the biggest chunk of its profits from advising and managing money for the world's rich.

  • It also maintained smaller global investment banking and asset management operations.

  • It conducts retail and corporate banking only in its home market.

  • The business model paid off in 2020.

  • It's low risk lending book, comprised primarily of mortgages and loans to the wealthy as well as a smaller portion of corporate and retail credit in its prosperous home market of Switzerland, suffered fewer losses than many high street piers.

  • U.

You Bs reported its highest annual pretax profit of the post financial crisis era on Tuesday as lending to the world's ultra rich and bumper trading volumes during the global pandemic triggered a surge in revenue.

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B1 lending rich banking retail profit corporate

UBS reaps rich rewards from pandemic

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    林宜悉 posted on 2021/01/28
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