UBS said net income in the first three months of the year almost doubled in a quarter that saw all divisions beat analyst estimates.
Bloomberg News reports that net income rose 88% to US$2.1bn.
UBS Group CEO Sergio Ermotti said: I'm pleased with the strong quarter. We stayed close to our clients, we stayed disciplined on risk and we delivered across all businesses and regions. The results again demonstrate the benefits of a strategy defined early and executed with a focus on long-term value creation'.