(Bloomberg) -- UBS AG, Switzerland’s biggest bank, said gains at its investment bank fueled an increase in second- quarter profit and announced plans to buy back the fund set up by the central bank in 2008 to help it shed toxic assets.

The investment bank posted a pretax profit of 775 million Swiss francs ($833 million), compared with a 92 million-franc loss a year earlier, while earnings at the wealth-management division rose 11 percent to 557 million francs, the Zurich-based company said in a statement today. Net income increased to 690 million francs from 524 million francs.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access