Swiss giant UBS on Wednesday beat bottom line expectations amid sharp returns in investment banking. The lender said it delivered a 32% year-on-year hike in revenues of the global markets unit of its investment banking arm,

UBS on Wednesday posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as U.S. tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity.

(Reuters) -Swiss bank UBS on Wednesday posted better than expected first-quarter net profit, helped by stronger earnings in trading driven by market turbulence in the wake of U.S. tariff turmoil, which it said could delay corporate deals.