Asia's private banks face high cost base, says UBS

Allen Lo, deputy CEO, UBS Wealth Management, APAC, discusses how the financial crisis has affected private banking clients and why he expects consolidation in the industry soon.

How has the private banking industry changed since the financial crisis
Regulatory changes have forced banks to maintain a higher capital base to comply with Basle III and other requirements. For UBS this is not an issue as we have always maintained a high capital base and raised capital early. As of the end of September 2011, our Basel II Tier-1 capital ratio stands at 18.4%, and it is among the highest in...

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