The retail and corporate arm of Swiss lender UBS has posted an adjusted profit before tax of CHF414m for the second quarter of 2015, up 12.8% compared to CHF367m a year earlier.
For the quarter ended 30 June 2015, the unit’s total operating income was CHF952 m, a marginal rise of 1.49% from CHF938m in the corresponding quarter of 2014.
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Net interest income stood at CHF560m, up 3.51% from CHF541m in the year ago quarter.
Total operating expenses were CHF555m for the quarter, down 4.96% from CHF584m a year ago.
Overall, the group registered a net profit attributable to shareholders of CHF1.2bn, a rise of 53% compared to CHF792m a year ago.
UBS CEO Sergio Ermotti said: "We maintained our momentum despite ongoing market challenges, and establishing UBS Switzerland AG was another major milestone in enhancing resolvability. We remain focused on building on our early mover advantage with a clear strategy, while increasing effectiveness and efficiency, and further investing for profitable growth."
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