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UBS reports YOY Q1 profit drop, including at i-bank

reported ayear-over-year drop in first-quarter net profit attributable to shareholders toCHF707 million from CHF1.98 billion.

EPSduring the quarter amounted to 18 centimes, compared to 53 centimes a year earlier.

Onan adjusted basis, pretax operating profit was CHF1.37 billion, compared toCHF754 million in the fourth quarter of 2015, mainly driven by a drop innonpersonnel expenses.

Atits wealth management business, pretax operating profit for the quarter fellyear over year to CHF557 million from CHF951 million. Meanwhile, its investmentbank booked pretax operating profit of CHF253 million, down from CHF766 million.

Forthe quarter, group net interest income totaled CHF1.71 billion, compared toCHF1.64 billion in the year-ago period. Net fee and commission income wasCHF4.09 billion, compared to CHF4.40 billion a year earlier; net trading incomewas CHF1.01 billion, down from CHF2.14 billion a year ago.

Thegroup's ROE for the first quarter was 5.1%, compared to 15.4% a year earlier.

Asof March 31, its fully applied Basel III common equity Tier 1 capital ratiostood at 14.0%, compared to 14.5% at the end of 2015, and 13.7% at March 31,2015. The phase-in figure was 16.9% at March-end, compared to 19.0% and 18.6%,respectively.

Thefully applied Swiss SRB leverage ratio was 5.4% at the end of March, comparedto 5.3% at the end of 2015 and 4.6% at the end of March 2015.

Thebank noted thatheightened economic and geopolitical uncertainty, as well as global marketvolatility, resulted in a pronounced client risk aversion.