People still don't know how much bank lending has been impacted by recent developments ... (or) when inflation will durably peak," said Prashant Bhayani, chief investment officer Asia, BNP Paribas Wealth Management. The drop in profit was largely due to UBS setting aside a further $665 million to cover the costs of toxic mortgages that played a central role in the global financial crisis some 15 years ago. Last week's U.S. bank earnings came in stronger than expected, and this week brings results for Big Tech and a number of big consumer brands in the United States.