UBS posts fall in quarterly profit to $1.35 billion

LONDON — UBS on Tuesday reported a fall in quarterly profit in the fourth quarter, posting a net profit attributable to shareholders of $1.35 billion.

This beat analyst expectations, but was down from $2.28 billion in the previous quarter.

Analysts had forecast the world’s largest wealth manager to post net income attributable to shareholders of $863 million, according to the consensus published by the bank.

The figures take UBS’ full-year profit to $7.46 billion, above a company-compiled consensus of $6.98 billion.

This is a breaking news story and will be updated shortly.