UBS net profit down 11.5% YoY in Q2

Tuesday, 21. July 2020 06:54

Swiss financial services company UBS Group AG announced on Tuesday that its net profit stood at $1.2 billion in the second quarter of 2020, representing a decrease of 11.5% compared to the same period a year ago.

Operating income amounted to $7.4 billion in the three months ending with June 30, 2020, 1.7% lower from the same trimester in 2019. The company's diluted earnings per share (EPS) dropped by 10.8% year over year to $0.37 in the second three-month period of 2020.

"The strength, resilience, and diversification of our integrated business model have once again been confirmed by the strong second quarter results and the excellent first half. As we continue to face a challenging environment, we are adapting and accelerating the pace of change, supporting our clients, employees, and the economies in which we operate, while remaining focused on our strategic priorities," CEO Sergio Ermotti said in a statement.

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