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USB Misses Fourth Quarter Expectations

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On Tuesday, YBS on Tuesday posted a $690 million fourth-quarter pre-tax profit. The bank's profits were hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank. Fourth-quarter pre-tax profit fell to $862 million, less than the $1.038 billion forecast in the bank's own analyst consensus summary. The bank proposed a dividend of 0.70 Swiss francs for 2018, up from 0.65 Swiss francs the prior year. Business Insider reports that UBS aimed to buy back up to $1 billion in shares in 2019.

Added on the 22/01/2019 07:32:24 - Copyright : Wochit

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