UBS plans to make a profit of $ 1.5 billion in the first quarter of 2020. The big bank claims good operational performance in all sectors of activity and capitalization ratios in line with targets.
These results take into account charges related to credit losses and adjustments related to this activity, said Thursday the number one Swiss bank. “We have supported our customers with loans and advice, helping them navigate this very difficult environment,” said managing director Sergio Ermotti, quoted in the press release.
UBS has decided to participate in the Federal Council’s assistance plan in the context of the health and economic crisis caused by the coronavirus. The big bank will thus grant loans at 0% guaranteed by the Confederation intended for companies affected by the restrictions imposed to fight against the spread of the pandemic.
UBS will publish its full quarterly results on April 28.