UBS reported a 27% fall in net profit for its first quarter, compared to the same period the year before, with the Swiss bank citing challenging market conditions.
At the end of 2018, the UBS noted some outflows in its wealth management division, which dented its performance. At the time, UBS also announced the aim to purchase $1 billion of its shares in 2019. This is after having had repurchased $751 million shares in 2018.
Media reports have suggested this week that UBS is in talks with the asset management division of Deutsche Bank about a potential merger.
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from Top News & Analysis https://cnb.cx/2UCEP7ivia IFTTT
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