by UBS reported fourth quarter and full-year earnings.
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UBS beat expectations by reporting $1.7 billion of web earnings for the fourth quarter of final 12 months, bringing its complete annual revenue to $7.6 billion in 2022.
Analysts anticipated UBS would obtain a web earnings of $1.3 billion within the fourth quarter and of $7.3 billion for the 12 months, in line with Refinitiv information.
“We delivered good full-year and strong fourth-quarter leads to a tough macroeconomic and geopolitical atmosphere,” CEO Ralph Hammers stated in an announcement.
Among the financial institution’s items, Global Wealth Management posted a web curiosity earnings enhance of 35% on the 12 months, because of greater deposit margins off the again of upper rates of interest.
Shares for the Swiss lender rose by about 15% over the past 12 months.
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