Comment on Swiss bank UBS sees profits rise, is confident on economy

Swiss bank UBS sees profits rise, is confident on economy

GENEVA (AP) — Swiss bank UBS says its net profit rose 19 percent in the first quarter, saying "momentum is good" amid sharp upswings in wealth management and investment banking profits. The Zurich-based bank said net income rose to 1.51 billion Swiss francs ($1.55 billion) in the first quarter, from 1.27 billion francs a year earlier and following a 2.34-billion-franc loss in the fourth quarter. UBS said it remains confident about global growth prospects that could underpin markets, "even though geopolitical tensions and the rise of protectionism remain a threat to investor confidence.Read more on NewsOK.com

 

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