UBS (UBS, Financial) shares fell 4.9% to $33.22 in pre-market trading. The bank reported a 7% year-over-year increase in fourth-quarter revenue, reaching $11.635 billion, surpassing analysts' expectations of $11.51 billion. Net profit stood at $770 million, a significant recovery from a $279 million loss in the same period last year.
The global wealth management division saw a net asset inflow of $18 billion, although this was a decrease from $25 billion in the previous quarter. UBS also projected that net interest income (NII) for the global wealth management sector, calculated in Swiss francs, will decline by a low to mid-single-digit percentage in the first quarter. Additionally, the NII for personal and corporate banking is expected to drop by about 10%.
