UBS Shines with 80% Profit Jump in First Quarter

UBS posted a net profit of $3 billion for the first quarter, an 80% rise from last year and higher than analysts’ $2. 8 billion forecast. The Swiss bank’s CET‑1 capital ratio climbed to 14. 7%, up from 14. 4% a quarter earlier, showing stronger solvency. It plans to buy back $3 billion of shares before the next earnings release, having already repurchased $900 million this quarter. The firm also hinted at more share buybacks by year‑end.UBS said markets stayed resilient amid hopes that the Middle East conflict will settle. However, it warned that risks remain high due to rapid changes in the situation. The bank expects net interest income for the second quarter to stay roughly flat across both wealth management and corporate banking. The company’s first‑quarter results were released on Wednesday, confirming its financial health and future plans.