UBS posts profit growth but misses out on Trump trading
UBS investment bank delivered a 54% increase in profit before tax in the final quarter of 2016, compared to the same period in the previous year, but the bank’s inventory-light approach meant it missed out on the post US election trading boom that has benefited US competitors.
UBS investment bank posted adjusted profit before tax of Sfr344m in the fourth quarter of 2016, compared with Sfr223m in the final quarter of 2015.A strong performance from the bank’s debt capital markets desk helped the corporate client solutions unit to deliver revenues of Sfr708m, up from ...
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