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UBS Group AG

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UBS Group AG reported strong first-quarter 2015 results. Results were aided by increased net interest income, net trading income, higher net fee and commission income along with lower net charges for provisions for litigation, regulatory and similar matters. However, these positives were partially offset by higher adjusted operating expenses. Amid the overall economic volatility, the company remains focused on building its capital level, while its restructuring initiatives including cost control are encouraging. Nevertheless, we remain cautious due to the stressed operating environment, stricter regulatory environment and litigation burden.

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