Swiss banking giant UBS revealed a first quarter net profit of nearly $1.8 billion on Tuesday, up 71 percent year-on-year, returning to profit after two quarters in the red due to the takeover of Credit Suisse. Its turnover increased by 46 percent to $12.7 billion, the bank said in a statement, with the income of its investment bank — the largest project in the integration of rivals Credit Suisse — increasing by 16 percent, driven by a more favourable climate on the markets and by the good performance of IPOs and mergers and acquisitions.
| Subscribe To Our Free Newsletter |
