Geneva (EFE).- The Swiss bank UBS obtained a net profit of 1,029 million dollars (931 million euros), 52% less year-on-year, in the first quarter of 2023, a period that was marked by the purchase of its main rival national bank, Credit Suisse, to save it from bankruptcy and at the behest of the Swiss government.
The bank’s income between January and March was 8,744 million dollars (7,900 million euros), a decrease of 6.8%, according to the results presented by the entity on Tuesday.
“Our strong results and asset inflows demonstrate that we continue to be a source of stability for our clients in periods of great uncertainty,” said Sergio Ermotti, appointed chief executive of UBS in March to lead Credit Suisse’s complex takeover process.
The UBS entry earns 52% less in the first quarter, the period of the Credit Suisse purchase was first published in EFE Noticias.