Boston, MA 02/04/2014 (wallstreetpr) – Impressive is the word that perfectly describes UBS AG (US listing) (NYSE:UBS) which is Switzerland largest bank in its latest Q4 earnings that show a massive improvement in the company’s earnings having grappled with losses in the same quarter a year ago. A net profit $1.0 billion for the fourth quarter compared to a net loss of 1.9 billion francs for the similar quarter a year ago is a clear indication that the bank is showing signs of massive growth in the market. The massive profits can be attributed to the bank investment division that has been recording positive results in the market complimented with sizeable tax gain. The massive losses for the same quarter a year ago was primarily due to the bank massive spending on the restructuring process and litigation costs
UBS Q4 analysis
The massive growth in the fourth quarter contributed a lot to UBS AG (US listing) (NYSE:UBS)’s full year profit of 3.17 billion francs compared to a huge loss of 2.48 billion francs in FY2012. The bank investment section showed the greatest resilience in the market reporting atax benefit of 470 million francs. The positive results beat the consensus estimates of net profits of 577 million francs with full year profit of 2.8 billion francs. The impressive earnings in the quarter saw the company’s shares soar up in the market by 3.6% to trade at 18.02 francs in Zurich.
UBS performance report
UBS AG (US listing) (NYSE:UBS) saw its performance income soar up by 2% to a high of $7 billion with its operating expenses dropping by 27% to lower limits of $6.5 billion. UBS as of December 31, 2013 saw its invested assets reach the higher markings of $2.6 billion in net value while it continues to enjoy an increase in its regulatory capital. The banks net income came in at $835.6 million in the fourth quarter an improvement considering it made net losses of $1.4 billion the previous financial year.
The verdict
The European markets have not been the best in the financial aspect as they try to pick themselves after the economic recession of 2008. This conditions seems not to have deterred UBS AG as it continues to perform extremely well. The bank has been able to settle its mortgage litigation cases successfully while also ensuring profits are attained in its operation. UBS AG (US listing) (NYSE:UBS) looks set to continue building its capital levels that would essentially build its competence levels in the future.
