Friday, 5th September 2008

 

24 July 2008 - Press Briefing

Managed assets come under pressure at Union Bancaire Privee

Geneva-based Union Bancaire Privee said net new money growth fell to SFr5.4bn in the first six months of 2008, 37% less than a year ago.

Total assets under management fell to SFr126.7bn, compared with SFr136.4bn at the end of 2007 – the bank blamed exchange rate movements and volatile markets for the fall.

The bank said it recorded a gross profit of SFr360m for the first half of the year, up 5.8% from a year ago. No numbers were given on net profits.

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