From January to March, customers withdrew 61.2 billion francs (62.48 billion euros) net, as the institute, which is about to be taken over by competitor UBS, announced on Monday. Assets under management melted from CHF 1.294 trillion at the end of 2022 to CHF 1.253 trillion. The bottom line after three months was a net profit of CHF 12.4 million.
For the second quarter and for the year as a whole, the bank announced a significant pre-tax loss. UBS plans to publish its quarterly results on Tuesday.
