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-Swiss private bank posts fall in revenue.

Global Banking News-January 31, 2013--Swiss private bank posts fall in revenue(C)2013 ENPublishing -

Global Banking News - 31 January 2013

Swiss bank, Union Bancaire Privee (UBP), has reported a 9 percent fall in revenue in 2012, while simultaneously recording an increase of CHF8bn in assets under management, Reuters has reported.

The fall in revenue has been attributed to the combined effects of a drop in client activity and low interest rates, which have squeezed profit margins on deposits. Spiralling costs incurred in a soaring Swiss franc currency, and revenue income in dollars or euros have resulted in losses at private banks like UBP.

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Publication:Global Banking News (GBN)
Date:Jan 31, 2013
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