WBrief: UBS profits rise - Spear's Magazine

WBrief: UBS profits rise

UBS reported a 7 per cent quarter-on-quarter rise in pre-tax profit at its wealth management arm in the three months to 31 March, reaching a figure of SFr645 million (around $729 million), boosted by higher operating income, the Swiss bank said today

UBS reported a 7 per cent quarter-on-quarter rise in pre-tax profit at its wealth management arm in the three months to 31 March, reaching a figure of SFr645 million (around $729 million), boosted by higher operating income, the Swiss bank said today.

Results showed that across all major geographical regions – including the once embattled Americas business – UBS’s results improved over the quarter. For the entire UBS group, covering all business lines, results improved dramatically.

Total operating income in the wealth management segment increased to SFr1.928 billion from SFr1.803 billion in the prior quarter following an improvement in all major income components, UBS said in a statement.

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