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

UBS

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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