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UBS reports full-year net profit of $2,978 million, and fourth quarter net profit of $662 million
UBS reports net profit after tax for 2001 of CHF 4,973 million ($2,978 million), 36% less than the previous year. Pre-goodwill, net profit was 28% lower than was achieved in the markedly stronger markets of 2000 (adjusted for significant financial events2). Although UBS is still constrained by the difficult economic environment, its businesses are well positioned with strong client franchises and growing market share. Net new money inflows totaled CHF 102 billion ($61 billion) in 2001, with Private Banking contributing CHF 22.5 billion ($13.5 billion), UBS PaineWebber generating CHF 36.0 billion ($21.6 billion) and UBS Asset Management CHF 34.9 ($20.9) billion.