(Bloomberg) -- UBS Group Chairman Axel Weber said banks overhauling their business models shouldn't shy from taking difficult decisions in their quest to bolster capital levels and profitability.

"To get there you have to do one thing: conduct a brutal and open self analysis, because without it and without acknowledging your own weaknesses and strengths, you can't pursue such an overhaul," Weber said on a panel at a conference in Frankfurt on Thursday.

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