UBS Group : Invested asset base should stabilises revenues in H2 when trading revenues might normalise
>We increase our estimates following strong Q2 2021 - We have revisited our estimates following strong Q2 2021 results reporting. UBS Q2 2021 results were driven by growth in invested assets, healthy transaction-based income growth, strong global banking income and net credit loss releases of $ 80m. Operating profit before tax came in at $ 2,593m, up by 64% y-o-y and ahead of $ 1,797m consensus estimate. The cost-income ratio stood at 71.8% (target 75% to 78%), 4.1%-p...UBS Group is a holding company. Through its subsidiary, UBS, Co. provides financial services including advisory services, underwriting, financing, market making, asset management and brokerage and retail banking. Co.'s operations are organized along five segments: Wealth Management (financial services to high net worth and ultra high net worth individuals as well as private and corporate clients); Wealth Management Americas (advice-based solutions for ultra high net worth, high net worth and core affluent individuals and families); Personal & Corporate Banking (provides financial products and services to private, corporate and institutional clients); Asset Management and Investment Bank.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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