Profit up 21% for UBS's Asia-Pacific unit in record showing for 2021

Singapore

THE Asia-Pacific unit of Swiss bank UBS enjoyed record results in 2021, with all its business units turning in robust performances.

Profit before tax for the division rose 21 per cent to US$2.6 billion in the 12 months to Dec 31 while revenue increased 9 per cent to US$6.5 billion compared with 2020. This came as expenses rose only 2 per cent to US$3.8 billion.