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NMR - UBS Earnings Results Are Excellent But The Stock Is Trading At A Discount
Nomura Holdings Inc ADR American Depositary Shares
UBS delivers record-beating earnings results. The bank was not much affected by the Archegos scandal.
The net income was $1.82B, far exceeding the estimate of $1.63B. The first-quarter operating income totaled $8.71B (+9.8% Y/Y), only missing the expectations by $100M.
UBS remains the largest Swiss bank with a great profitability history.
But the stock is trading at unreasonably low levels.