UBS Q1 Net Profit Surges 80% to $3 Billion, Beats Estimates
L'essentiel
- UBS reported Q1 net profit of $3 billion, up 80% year-on-year and beating analyst estimates of $2.8 billion.
- The Swiss bank's CET1 capital ratio improved to 14.7%.
- Underlying pre-tax profits rose 54% to $3.9 billion, exceeding expectations.
Résumé généré par IA
UBS generated a net profit attributable to shareholders of $3 billion for the first quarter, up 80% year-on-year and surpassing the $2.8 billion estimated by analysts, according to an LSEG-compiled consensus poll. The Swiss banking and asset management giant's common equity tier (CET) 1 capital ratio — a gauge of a bank's solvency — also increased, reaching 14.7% during the period, up from 14.4% the previous quarter. The bank remains on track to buy back $3 billion in shares ahead of its next earnings report for the second quarter, having repurchased $900 million of shares during the three-month period. Underlying profits before tax totaled $3.9 billion, up 54% year-on-year and beating analyst expectations of $3.2 billion.
