UBS may have swung back into profitability last year – following two years of suffering hefty losses – however, shareholders continued to queue up at the annual general meeting to dispute low-key claims of progress by the Swiss bank’s top brass.

But the AGM - which was held at Basel's St Jakobshalle complex - was more civilised than in previous years, when shareholders have arrived brandishing strings of sausages or copies of Grimm's fables as they accused management in the past of telling fairy tales.