UBS reports first profit since taking over Credit Suisse

UBS makes first profit since Credit Suisse rescue

By Hanna Ziady, CNN London (CNN) — UBS has reported its first quarterly profit since buying ailing rival Credit Suisse, marking a sharp turnaround from six months of losses that immediately followed the closure of the rescue deal. Shares in the Swiss lender surged 10% in Zurich Tuesday after it posted net profit of $1.8 billion for the first three months of 2024 — a 71% increase from a year ago. Combined losses for the June-to-December 2023 peri…

UBS back in profit after Credit Suisse takeover losses

ZURICH, Switzerland — Swiss banking giant UBS on Tuesday said first-quarter net profit rose 71 percent to nearly $1.8 billion, far exceeding expectations, after two quarters in the red due to the mammoth takeover of Credit Suisse. Switzerland’s biggest bank said its turnover increased by 46 percent to $12.7 billion, largely thanks to its investment

UBS back in profit after Credit Suisse takeover losses

Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion, far exceeding expectations, after two quarters in the red due to the mammoth takeover of Credit…

UBS smashes estimates with first profit since Credit Suisse takeover

It also reported US$27 billion in net new assets for Q1, compared to US$22 billion for the three months prior. Read more at straitstimes.com.

UBS Returns to Profit as Wealth, Investment Bank Drive Beat

(Bloomberg) — UBS Group AG returned to profit after two loss-making quarters, with both wealth management and the investment bank adding to sustained progress in the integration of Credit Suisse after its emergency rescue last year.  The Zurich-based bank said net income in the first quarter was $1.8 billion, compared with analysts estimates of $598…

UBS Swings Back to Net Profit With Credit Suisse Integration on Track

Costs linked to the integration of Credit Suisse came to $1.02 billion for the quarter, the bank said