UBS profit picks up as costs decline

Source: Bloomberg
© Scanpix/FP
UBS AG, the largest bank in Switzerland, announced a 15% increase in profit for the second quarter of this year, beating analysts' expectations. Net revenue picked up to 792 million francs versus 690 million francs in Q2 2013. During the last year, costs of the bank were decreased by 2.1 billion francs. Today, UBS AG shares are dropping 0.8% to 16.49 francs by 8:00 GMT in Zurich.
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