UBS Global Wealth Management in Asia Pacific posted a profit before tax of $428 million in the first quarter of 2025, according to the bank’s financial results, up 36 percent year-on-year.

This included a 9 percent increase in revenues to $1 billion, mainly driven by growth in transaction-based and recurring income. Operating expenses fell 5 percent to $604 million, with the cost/income ratio decreasing to 58.4 percent.

New High For APAC

The region also recorded $7.5 billion of inflows, with invested assets growing $24 billion quarter-on-quarter to $689 billion – a new high for APAC. Globally, the bank grew invested assets by $36 billion to reach a total of over $4.2 trillion. This was mainly driven by positive foreign currency effects of $36.1 billion alongside net new asset inflows of $31.5 billion, partly offset by negative market performance of $24.6 billion.

Overall, UBS recorded a pre-tax group profit of $2.1 billion, more than doubling the same period last year.