April 23, 2018 / 4:55 AM / 3 months ago

UBS posts 1.5 bln Sfr Q1 profit

ZURICH, April 23 (Reuters) - UBS, Switzerland’s biggest bank, on Monday posted a 1.51 billion Swiss franc ($1.55 million) net profit for the first quarter of 2018, helped by a rise in income from its investment bank amid increasing global market volatility.

The 19 percent year-on-year rise put the bank’s first-quarter earnings above the median net profit estimate of analysts in a Reuters poll of 1.373 billion francs.

“We had an excellent start to 2018, with our results once again showing the power of our diversified business,” Chief Executive Sergio Ermotti said in a statement. (Reporting by Brenna Hughes Neghaiwi)

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