UBS reports 2.2 billion franc Q1 net profit

ZURICH: Swiss bank UBS AG has reported a first-quarter net profit attributable to shareholders of 2.2 billion Swiss francs ($2 billion).

The results beat analysts' expectations of a net profit of 2 billion francs.

The Zurich-based bank recorded a net loss of 1.98 billion francs ($1.84 billion) in the first quarter of 2009.