(11 May 2010 – Australia) UBS’s Australian operation was the latest in a string of investment banks to lodge impressive accounts with the corporate regulator, reporting an increase in its net profit from A$35 million in 2008 to A$172.6 million for the last calendar year.The result for the investment bank was upheld mainly by a huge increase in its trading income up from an A$83.4 million loss to A$257 million in 2009.
The result was influenced by marginally stronger net fee and commission incomes of A$250.7 million.
The limited result information did not include asset management and fixed-interest earnings, or fees from investment banking advisory work.