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UBS net earnings dwindles to $5.1b in FY 2024, revenues up globally
Asia operations pencilled a profit before tax of $271m
UBS’ full-year 2024 (FY 2024) net earnings slipped 81.4% year-on-year (YoY) to $5.1b, with Asia contributing $842m in revenues.
Globally, revenues increased by 10% YoY to $6.12b, driven by higher recurring net fee income, reduced negative other income, and higher transaction-based income.
The bank’s Asia operations pencilled a profit before tax of $271m. Total revenues increased 15% YoY, driven by higher transaction-based income, net interest income, and recurring net fee income.
The period’s earnings per share stood at $1.52, a 81.7% YoY contraction.
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