Justin Tallis | AFP | Getty Images
The logo of Swiss bank UBS at its headquarters in London on May 5, 2017.
The Swiss bank UBS reported a net income below market expectations, but 14 percent higher than the same period last year.
“We again saw good results across our business divisions with Asia Pacific as an important driver of profitable growth. We remain focused on disciplined execution and creating long-term value for our shareholders,” Sergio Ermotti, group chief executive Officer of UBS said in a statement.
Here are the key metrics:
- Net income: 0.9 billion Swiss francs vs 1.234 billion Swiss francs ($1.245 billion), expected by Thomson Reuters
- Earnings per share: 0.25 francs vs 0.35 francs, expected by Thomson Reuters
- Revenue: 7.145 billion Swiss francs vs 7.060 billion, expected by Thomson Reuters
“We expect the global economic recovery to strengthen further, but geopolitical tensions and macroeconomic uncertainty still pose risks to client sentiment,” the bank said in a statement.
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