The bank's net income attributable to shareholders for 2018 was $ 4.897 billion, compared to $ 969 million in 2017, when a US tax reform detracted from results. Five analysts surveyed by Reuters forecast a net profit of $ 4.906 billion for 2018.
"We experienced a normalization of markets in early 2019. We will continue to focus on balancing efficiency and investment for growth to continue to provide capital to return targets while creating sustainable long-term shareholder value," explained Sergio Ermotti, UBS's Chief Executive Officer, in a statement on Tuesday.
UBS also announced that it will acquire $ 1
The Swiss bank reported nearly $ 8 billion in wealth management outflows in the fourth quarter, and lower invested assets will impact recurring income in this division.