Swiss Bank UBS Sees Profit Jump as Rich Park Their Cash

May 5, 2015 1:37 PM

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Swiss bank UBS Group AG says net profit almost doubled in the first quarter as money from rich clients flowed into its wealth management businesses.

The company said Tuesday that its net profit rose to 1.977 billion Swiss francs ($2.12 billion) in the January to March quarter from 1.054 billion francs in the same quarter a year ago.

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