UBS Smashes Expectations with $1.8 Billion First Quarter Profit – What’s Next for the Banking Giant?
Krakow, Poland – UBS, the Swiss banking giant, has reported a significant swing back to profit following two consecutive quarterly losses. This turnaround was driven by the bank’s impressive performance in the first quarter, which exceeded expectations, thanks to increased revenues in wealth management. The first quarter saw UBS post a net profit of $1.8 billion, surpassing the consensus forecast and reflecting the positive impact of lower expenses and consolidation benefits stemming from the takeover …