Alexa

UBS confirms 2B franc net loss for Q1

UBS confirms 2B franc net loss for Q1

UBS AG says it had a net loss of 1.975 billion Swiss francs ($1.75 billion) during the first quarter.
Tuesday's results confirm figures predicted by the Swiss bank last month.
UBS says it also continued to see large customer withdrawals during the period.
It is the first quarterly report by UBS' new management led by chief executive Oswald Gruebel and chairman Kaspar Villiger, who were brought in to turn the bank around after record losses of 20.89 billion francs last year.


Updated : 2021-04-11 02:38 GMT+08:00