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UBS was $ 1.7 billion in the first quarter, overcoming analysts’ expectations after the flying financial markets helped pay profits in the largest bank in Switzerland.
The bank’s net profit fell from $ 1.8 billion in the previous year, but before analysts’ expectations of $ 1.3 billion. The reported quarterly revenues were flat at $ 12.6 billion.
The UBS Investment Bank recorded a 16 percent jump in revenue to $ 3.3 billion, supported by its markets, as revenues increased by 32 percent compared to the previous year to $ 2.5 billion.
The World Wealth Management Department has attracted $ 32 billion in new money.
“The strength and size of our diverse global concession, in addition to our constant focus on customers, led a strong momentum in the quarter and net new flows in our business collection.”
This is a developing story
