UBS lost a sudden loss of $ 774 million by the collapse of the American Investment Fund Arkigos, partly to the hope of higher quarterly earnings for the world's 14%, exceeding expectations.
According to Arab Net, the loss made by the largest Swiss bank from Arkagos is still frequented in the global banking sector.
However, net profit reached 1.824 billion in the first 3 months from 2021, surpassing an average expectations in winning 1.591 billion in a survey conducted for 20 analysts.
The bank achieved profits before taxing higher than expectations, with increased increases of hectic transactions and strong results achieved at the beginning of the Corona virus crisis last year in compensation from Arcigos.
The profits of investment before taxes fell 42% due to an arcs loss and more modest growth of revenue in the rest of trading activities.
The bank saw new flows of rich clients of $ 36.2 billion, which contributed to an increase in estimated assets to $ 3.108 trillion.
The Bank Asset Management Unit achieved the largest gain between all its departments, and profits increased 45% thanks to the powerful investment environment.
