ZURICH May 6 Swiss bank UBS on
Tuesday it will pay a special dividend to investors who help it
transfer into a holding company, a bid to win rebates on capital
rules demanded by regulators following the financial crisis.
The Swiss bank is launching a swap of shares into the new
company, which is meant to separate its branches more easily in
case one runs into trouble without jeopardizing the remainder, a
key element of too-big-to-fail laws.
The Zurich lender disclosed the plan, agreed with Swiss
financial regulator FINMA, alongside a 7 percent rise in
first-quarter net profit to 1.05 billion Swiss francs ($1.20
billion). This topped expectations in an analyst poll conducted
by Reuters, which averaged 905 million francs.
($1 = 0.8778 Swiss Francs)
(Reporting by Katharina Bart)