UBS Q1 Profit Climbs - Quick Facts

(RTTNews) - Swiss banking giant UBS Group AG (UBS) reported Monday that its first-quarter net profit attributable to shareholders was 1.51 billion Swiss francs, 19% higher than last year's 1.27 billion francs.

Earnings per share were 0.39 franc, up from 0.33 franc a year ago.

Profit before tax grew 17% year-over-year to 1.97 billion francs. In US dollar terms, profit before tax climbed 24%. Adjusted profit before tax was 1.88 billion francs.

Operating income grew to 7.70 billion francs from 7.53 billion francs a year ago.

Looking ahead, Sergio Ermotti, Group Chief Executive Officer, said, "All of UBS's businesses are affected by economic growth expectations, interest rates, equity market levels and foreign exchange rates. While higher compared with last year's historic lows, market volatility remains muted overall which is usually less conducive to client activity."

The company added that due to seasonal factors, second quarter transaction-based income in Investment Bank and Global Wealth Management businesses is also typically lower than in the first quarter.

"Momentum in our businesses is good, and we expect our results in the second quarter to provide further evidence of the strengths of our diversified business model, as well as our progress towards achieving our strategic and financial targets," the company said.