UBS revenue halves as a result of U.S. litigation, however attracts billions new cash

UBS Group AG stated Tuesday that earnings declined within the first quarter, damage by litigation, however that the financial institution drew in billions in web new cash at its world wealth-management enterprise following the information of its acquisition of Credit score Suisse Group AG.

The Swiss financial institution UBS CH:UBSG stated its end result was affected by $665 million in provisions associated to U.S. residential mortgage-backed securities litigation.

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