UBS says net profit attributable to its shareholders reached CHF3,147 million in the second quarter of 2006, up from CHF2,147 million in the same period a year earlier.
Financial businesses contributed CHF3,032 million to attributable net profit, up 51% from a year earlier. The result was close to the all-time record set in first quarter 2006. In first half 2006, attributable profit from the financial businesses was CHF6,080 million, an increase from CHF4,538 million in the same period a year earlier.
Global wealth m,nagement & business banking achieved pre-tax profits of CHF2,094 million in second quarter 2006, while invested assets totaled CHF2,657 billion at the end of June.
The asset management arm achieved pre-tax profits of CHF334 million in second quarter 2006, down 11% from CHF374 million in first quarter 2006, but 52% higher than CHF220 million in second quarter 2005.
Our performance was strong – and achieved despite the market reversal in the middle of May. Recurring income continued to benefit from the high levels of invested assets. Underwriting fees were at a record. Corporate finance and brokerage fees rose, as did revenues from trading activities, said Clive Standish, company CFO.
