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.