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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| UBS Group AG | NYSE:UBS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.45 | -1.68% | 26.40 | 26.57 | 26.005 | 26.29 | 1,789,015 | 00:54:21 |
From May 2021 to May 2024
By Cristina Roca
UBS Group AG's first-quarter profit earnings rose, beating analysts' expectations.
The Swiss bank on Tuesday reported a quarterly net profit of $2.14 billion, compared with $1.82 billion a year earlier and analyst expectations of $1.79 billion, according to a company-provided consensus.
Operating income came in at $9.36 billion, up 8% on year. Analysts had expected operating income of $8.83 billion, according to the same consensus.
The bank said it achieved these results in spite of increased uncertainty in the quarter amid the Russian invasion of Ukraine, Covid-19 lockdowns, a lower economic growth outlook, and inflationary pressures.
"Our clients continued to put their trust in us to navigate this environment," it said.
Operating income inched higher at the global wealth management unit, while its investment bank booked a 28% jump in operating income, reflecting a large loss a year earlier.
Regarding Russia, UBS said it has further reduced its exposure to the country.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
April 26, 2022 01:24 ET (05:24 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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