UBS posts smaller-than-expected 5% rise in Q2 net profit

2022.07.26 08:01

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland June 22, 2020. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) – Swiss bank UBS posted on Tuesday a smaller-than-expected 5% rise in net profit for the second quarter as revenues at its investment bank fell 14%.

Profit in the three months ended June was $2.108 billion. That compares with $2.006 billion a year earlier and lagged expectations for a 19.8% rise to $2.403 billion in a poll of 19 analysts compiled by the bank.

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