ECM surge helps Hamers' UBS

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By Jasper Cox
26 Jan 2021

UBS, the first major European investment bank to report fourth quarter results, smashed through expectations in global banking, with that part of its business benefiting from equity capital markets revenue more than doubling year-on-year.

Maria Rivas, analyst at DBRS Morningstar, noted that in the last quarter of both 2019 and 2018, UBS's investment bank registered a loss before tax: this year it made $529m, it showed in its results on Tuesday.

"Results were supported by strong revenue growth in equity derivatives ...

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