Published 12 days ago

UBS reports first profit since taking over Credit Suisse

UBS reported its first quarterly profit after acquiring Credit Suisse, with a 71% profit increase to $1.8 billion in the first quarter of 2024.
CEO Sergio Ermotti credited the bank's strength and integration plans for the successful financial turnaround.
UBS achieved an additional $1 billion in cost savings in the first quarter, aiming for a total of $5 billion, with plans to reduce costs by $13 billion by 2026.

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Reuters

UBS smashes estimates with first profit since Credit Suisse takeover

UBS on Tuesday reported net income for January-March that was nearly triple estimates as the bank logged its first quarterly profit since taking over fallen rival Credit Suisse.

12 days ago·United Kingdom

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KRDO

UBS makes first profit since Credit Suisse rescue

By Hanna Ziady, CNN London (CNN) — UBS has reported its first quarterly profit since buying ailing rival Credit Suisse, marking a sharp turnaround from six months of losses that immediately followed the closure of the rescue deal. Shares in the Swiss lender surged 10% in Zurich Tuesday after it posted net profit of $1.8 billion for the first three months of 2024 — a 71% increase from a year ago. Combined losses for the June-to-December 2023 peri…

12 days ago·Colorado Springs, United States

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CNBC

UBS swings back to profit and smashes earnings expectations for the first quarter

It is the Swiss banking giant's first earnings report in the black since it completed the acquisition of fallen rival Credit Suisse.

12 days ago·United States

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The Straits Times

UBS smashes estimates with first profit since Credit Suisse takeover

It also reported US$27 billion in net new assets for Q1, compared to US$22 billion for the three months prior. Read more at straitstimes.com.

12 days ago·Singapore

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France24

UBS back in profit after Credit Suisse takeover losses

Swiss banking giant UBS on Tuesday said first quarter net profit rose 71 percent to nearly $1.8 billion, far exceeding expectations, after two quarters in the red due to the mammoth takeover of Credit…

12 days ago·France

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Inquirer

UBS back in profit after Credit Suisse takeover losses

ZURICH, Switzerland — Swiss banking giant UBS on Tuesday said first-quarter net profit rose 71 percent to nearly $1.8 billion, far exceeding expectations, after two quarters in the red due to the mammoth takeover of Credit Suisse. Switzerland’s biggest bank said its turnover increased by 46 percent to $12.7 billion, largely thanks to its investment

12 days ago·Manila, Philippines

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