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UBS meets expectations with $2.7 billion Q3 profit
ZURICH: UBS reported a third-quarter net profit of $2.69 billion on Wednesday, up 8% year-on-year and roughly in line with the $2.71 billion expected as per a company-provided consensus forecast. The performance of the largest Swiss bank was supported by net new assets of $55 billion in global wealth management, driven by inflows of $18 billion in Asia and $17 billion in the Americas. Profitability in the Americas improved, with the profit-before-tax margin up by over 2 percentage points, UBS said. The integration of former rival Credit Suisse is on track for completion by year-end, the bank a...
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