UBS UBS Group AG

ZURICH—UBS Group AG said Tuesday fourth-quarter net profit fell 1.5% from a year earlier as the Swiss bank sought to maintain its lead over rival Credit Suisse Group AG in the wealth-management market.

Zurich-based UBS said net income in the period ended in December rose to 949 million Swiss francs ($930.7 million), or 0.25 francs a share, compared with 963 million francs, or 0.26 francs a share, reported in the same quarter last year, when the bank enjoyed a significant tax benefit.

Analysts had expected UBS to report net income of 312 million francs for the quarter, or 0.09 francs a share.

UBS said adjusted pretax profit at its flagship wealth-management unit was 505 million francs in the quarter, and that the business saw 3.4 billion francs in net new money outflows in the period.

The bank's key capital ratio stood at 14.5% at the end of the quarter, UBS said.

Write to John Letzing at john.letzing@wsj.com

(END) Dow Jones Newswires

February 02, 2016 01:55 ET (06:55 GMT)

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