Swiss bank UBS posts 24% profit slide but beats analyst expectations

UBS is aiming to improve its business in Asia-Pacific and CEO Hamers said he sees “some opportunities to grow” in China.

The investment banking division saw revenues down by 19% with the lower performance in equity derivatives, cash equities, and financing revenue being offset by revenues in foreign exchange.

The Global Wealth Management division also reported lower revenues, down by 4% year-on-year.