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February 9, 2010 6:00 AM EST
Swiss bank UBS
UBS, hit hard by the credit crisis and a bitter U.S. tax row, needs to show sustainable recovery to win back client and investor confidence, particularly as a U.S. settlement is now in question and Swiss bank secrecy remains under attack.
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UBS said it expected client withdrawals to continue "in the immediate future," but said the investment bank's performance as a whole would improve in 2010.
UBS posted quarterly net profit of 1.205 billion Swiss francs ($1.1 billion), partly helped by one-off tax credits and a cut in bonuses, its second positive quarter in two years.
Results came ahead of expectations for 326 million francs profit in a Reuters poll.
(Reporting by Lisa Jucca)
($1=1.074 Swiss Franc)
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