Back in the game – Wall Street + Washington

UBS AG, the global financial services firm, recently released its 2010 first quarter financial results :

Highest quarterly profit in almost three years: net earnings was 2.2 billion Swiss francs ($2 billion) in the first quarter of 2010, up from a loss of 1.98 billion francs a year earlier
Strong performance driven by UBS’s investment bank, especially its fixed income, currencies and commodities (FICC) business
Revenue of 752 million francs from credit trading, a business built from scratch over the past year
At the end of Q1 2010, core tier 1 capital ratio increased to 12.5%, up from 11.9% as at Q4 2009
Balance sheet with total assets of 1.4 trillion Swiss francs ($1.3 trillion)
All business divisions reported a pre-tax profit

Abraham Tiamiyu