UBS Group AG reported strong customer inflows as it prepares to swallow rival Credit Suisse Group AG in the first banking megamerger for years.
Switzerland’s largest bank said the world’s wealthy flocked to it in the quarter, as many sought shelter from the troubles at Credit Suisse. It said its wealth management arm gained $28 billion in net new money—including $7 billion in the last 10 days of March—after UBS said it would buy Credit Suisse.