Swiss bank UBS has surprised analysts with the strength of its profits last year and said that it had made a strong start to 2007.
The bank, which employs around 45 people in Ireland, announced full-year net profit of €7.5 billion, exceeding forecasts of €6.51 - €7.25 billion.
For 2007, the bank said its focus would be on integrating new areas of activity, following the completion of three acquisitions in the last year.
The full-year net result was down 12.7% from the €8.60 billion posted in 2005, when the bank benefited from exceptional items after the sale of small private banking operations to Swiss private bank Julius Baer.
