Union Bancaire Privee Reports SF176 Million Profit for 2011

Union Bancaire Privee said net income fell to 176 million Swiss francs ($190 million) last year from 216 million francs a year earlier.

Client assets increased almost 11 percent to 72 billion francs in 2011 following the acquisition of ABN Amro Group NV’s Swiss wealth-management unit, UBP said on its website today.

To contact the reporter on this story: Giles Broom in Geneva at gbroom@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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