The Zurich-based bank said net income in the first quarter was US$1.8 billion, three times what analysts forecast. While accounting effects related to the takeover represented a large part of the beat, strong performance in managing wealth and investment banking aided the result.
UBS Returns to Profit as CEO Ermotti Affirms Buyback Plans
UBS Group AG returned to profit after two loss-making quarters, cementing sustained progress in the integration of Credit Suisse after its emergency rescue last year.
