SWITZERLAND - Swiss financial services giant UBS has beaten analyst expectations having posted posted better than expected first quarter results. UBS reported net profits of CHF1.21bn - an 11% decline on the first quarter a year earlier, but a 35% increase on the previous quarter, excluding writedowns related to the withdrawal of the PaineWebber brand and gains from the sale of Klinik Hirslanden.
UBS said that its results were down to strict cost control measures and strong figures from certain units, including wealth management and investment banking. It added that any dents in its balanc...
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