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UBS reported a net profit for the first quarter of $3.04 billion compared with $1.69 billion in the year-earlier period.
UBS reported Q1 net profit of $3.04 billion, beating analyst expectations of $2.33 billion.
KEY POINTS
- UBS's global wealth-management unit attracted $37.4 billion in net new money, including U.S. inflows.
- UBS completed the transfer of former Credit Suisse Swiss clients to its own platform last month.
- Switzerland's Federal Council eased proposed capital demands but maintained plans for stricter subsidiary requirements.
- UBS is on track to complete Credit Suisse integration by year-end, enabling system dismantling and cost savings.
COMPANIES
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