US Stocks Move: UBS Drops 4.3% as Q4 Outflows in US Wealth Management Raise Concerns
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Glonghui, February 4th｜UBS (USB.US) fell 4.3% to $45.6. According to reports, UBS's revenue in the fourth quarter of last year was $12.1 billions, and net profit attributable to shareholders increased by 56% year-on-year to $1.2 billions, exceeding expectations. The Common Equity Tier 1 (CET 1) ratio was 14.4%, down from 14.8% in the third quarter. During the period, overall net inflows in wealth management business reached $8.5 billions, among which the US wealth management business experienced a $14.1 billions outflow, raising market concerns.
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