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

Sources: UBS, Bloomberg, Wall Street Journal

Abraham Tiamiyu