UBS releases results early after leak

Dripping Tap

UBS releases results a day early after a Swiss newspaper report on the figures over the weekend.

UBS saw its profits soar over 50 percent in the second quarter, after the bank reported earnings a day early following leaked figures which were reported by local Swiss media over the weekend.

The bank reported net profit of 1.2 billion Swiss francs ($1.25 billion) in the three months to March this year, citing positive contributions from all divisions and regions. This was up 53 percent on the year.

"In order to be transparent and counter certain incorrect and misleading information that has become public, UBS chose to release its second quarter 2015 results one day early," UBS said in a statement. On Sunday, Swiss weekly newspaper Sonntagszeitung reported that the Zurich-based bank would post a year-on-year increase of about 25 percent in quarterly net profit with around 1.5 billion francs of earnings.

Reuters contributed to this report.

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