UBS net profit drops 52% in the first quarter due to hit from U.S. legal battle

UBS net profit drops 52% in the first quarter due to hit from U.S. legal battle

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UBS reported its first results since the deal to buy Credit Suisse. UBS reported $1.03 billion in net profit for the first quarter, down 52% year-on-year amid a legacy litigation matter. These are the Swiss bank's first results since announcing its takeover of rival Credit Suisse. Analysts had…

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