ZURICH—UBS Group AG’s net profit fell in the first quarter compared with one year earlier but exceeded expectations, capping a solid first quarter for Swiss banks despite tough conditions in the early part of the year. Net profit at Switzerland’s largest bank was $1.14 billion compared with $1.57 billion a year earlier, UBS said Thursday, topping analyst expectations of around $900 million. Operating income fell to $7.22 billion from $8.17 billion “due to the challenging market environment and a very strong prior-year performance,”...

Source: Wall Street Journal April 25, 2019 07:41 UTC