Little to cheer in UBS’s IB results
UBS investment bank’s profit before tax fell by more than half in the first quarter of 2018, with year-on-year declines in almost all divisions, the Swiss institution revealed on Thursday.
Operating income at the investment bank fell by 27% to $1.77bn, and adjusted profit before tax was down 64% to $221m.But in what looks to have been strong expectation management, the results were better than UBS had warned: CEO Sergio Ermotti was reported to have predicted a ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org