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Business

UBS result in Q1 2019




UBS reported a 27% fall in net profit for the first quarter, compared to the same period last year, with the Swiss bank referring to challenging market conditions.

The net result for the first quarter came to $ 1.1 billion, compared to $ 848 million in a Reuters analyst survey, which was lower than the $ 1.57 billion reported this time last year in what was a strong quarter for

Here are the other main features of the first quarter of 2019:

  • Revenue of $ 7.2 billion, against $ 8.2 billion
  • Return on tangible equity of 9.8% versus 1[ads1]3.5% a year
  • CEO Sergio Ermotti told CNBC on Thursday that it was a "very challenging quarter," but he was "satisfied" with

    The bank's value creation department and the Investment Bank unit had much lower operating profit than in the first quarter of 2018. The previous recorded an operating profit of $ 873 million, compared to $ 1.1 billion a year ago.

    lt operating profit to $ 221 million from $ 619 million a year ago. UBS said this was caused by the challenging trading environment, mainly in Europe and Asia.



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