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UBS Operating Profit Before Tax Rises 27% to $3.587 Billion
Net profit rose just 8% as taxes increased, while wealth management attracted $55.1 billion in new assets.
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UBS reported a 27% year-on-year increase in third-quarter pre-tax profits to $3.59 billion, with a net profit of $2.7 billion. While total revenue of $13.35 billion exceeded forecasts, earnings per share of $0.85 fell short of market expectations. The bank's Global Wealth Management division performed strongly, attracting $55.1 billion in net new assets, while the return on Common Equity Tier 1 (RoCET1) capital reached 14.8%.
Net profit rose just 8% as taxes increased, while wealth management attracted $55.1 billion in new assets.
Read the full storyNet profit attributable to shareholders was $2.690 billion, while reported revenue exceeded analysts’ estimates ahead of the results announcement.