UBS Group (UBSG.SW) said Tuesday that profit and revenue for the full-year 2023 jumped year over year.
Net profit attributable to shareholders for the 12 months ended Dec. 31, 2023, was $29.03 billion, compared with $7.63 billion a year ago. EPS was $8.81, compared with $2.25.
The Swiss bank’s total revenue was $40.83 billion, compared with $34.56 billion previously.
Analysts polled by Visible Alpha were expecting $12.92 billion in net income or $4 per share, while revenue was estimated at $42.84 billion.
Meanwhile, the board will propose a dividend of $0.70 per share for 2023, payable on May 3 to shareholders on record May 2. It paid $0.55 per share a year ago.
Looking ahead, UBS expects first-quarter 2024 revenue to be positively impacted by seasonal factors, including higher client activity compared with the fourth quarter of 2023. It also expects “substantial sequential improvement” in reported net profit for the first three months of 2024.