The net profit attributable to shareholders was greater Banks Switzerland $1.4 billion, compared to about $740 million estimated by analysts in a survey provided by the group.
Operating expenses amounted to $10.3 billion in the same quarter, down from more than $11.6 billion in the same period of the previous year. The group’s total revenues reached $12.3 billion, ahead of the expected $11.5 billion.
“Amidst market conditions that, although positive, continue to show periods of high volatility and turbulence, our business achieved impressive revenue growth as we maintained strong customer momentum, in particular In the Americas and the Asia-Pacific region.
And continue UBS Bank Officially in May the merger with its old rival Credit Suissewhich collapsed last year following a series of financial setbacks and scandals.
UBS is moving ahead with its merger with Credit Suisse, and Ermotti said last month that the bank was ahead of schedule in its efforts to cut costs and absorb its old rival.
The bank recently began moving clients from Credit Suisse to its own platforms, a process that Ermotti said last week would likely take about 18 months.
