By Adria Calatayud


UBS Group returned to net profit for the first quarter after posting losses for the prior two quarters, helped by lower expenses related to its takeover of rival Credit Suisse.

The Swiss banking giant said Tuesday that it made a net profit of $1.755 billion for the first three months of the year, compared with $1.03 billion for the same period last year.

Analysts had expected a net profit of $602 million, according to consensus estimates provided by the bank.


Write to Adria Calatayud at adria.calatayud@wsj.com


(END) Dow Jones Newswires

05-07-24 0107ET