UBS profits drop 27% in first quarter on 'challenging market conditions'

div > div.group > p:first-child"> Net income for the first quarter came in at $1.1 billion, versus $848 million expected in a Reuters poll of analysts.

At the end of 2018, the UBS noted some outflows in its wealth management division, which dented its performance. At the time, UBS also announced the aim to purchase $1 billion of its shares in 2019. This is after having had repurchased $751 million shares in 2018. Media reports have suggested this week that UBS is in talks with the asset management division of Deutsche Bank about a potential merger.

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