(Adds dropped word "million" in second paragraph)
ZURICH, April 28 Swiss bank UBS kicked
off 2017 with a 79 percent jump in net profit as a brighter
outlook boosted its investment bank and client trading in its
core wealth management business.
Switzerland's biggest bank and the world's largest wealth
manager said on Friday net profit for the first three months of
2017 was 1.3 billion Swiss francs ($1.31 billion). This overshot
the average estimate of 919 million francs in a Reuters poll of
seven analysts, beating even the highest forecast.
"While the global recovery is likely to continue,
macroeconomic uncertainty, geopolitical tensions and divisive
politics pose risks that may affect client sentiment and
transaction volumes," UBS said in a statement.
(Reporting by Brenna Hughes Neghaiwi and Joshua Franklin;
Editing by Michael Shields)