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Published 1 month ago

UBS reports first profit since taking over Credit Suisse

  • UBS reported its first quarterly profit after acquiring Credit Suisse, with a 71% profit increase to $1.8 billion in the first quarter of 2024.
  • CEO Sergio Ermotti credited the bank's strength and integration plans for the successful financial turnaround.
  • UBS achieved an additional $1 billion in cost savings in the first quarter, aiming for a total of $5 billion, with plans to reduce costs by $13 billion by 2026.
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