UBS beats expectations with third-quarter profit of $2.3 billion


UBS has beaten analyst expectations in the third quarter as its wealth management division continued to outperform.

The Swiss bank on Tuesday reported net profit attributable to shareholders of $2.3 billion for the period.

Analysts had expected the figure to come in at $1.57 billion, according to estimates collected by Refinitiv.

It comes after UBS reported a 63% jump in profit for the previous quarter on the back of higher revenues in its wealth management division.

Shares in the bank are around higher by about 24% year-to-date.


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