UBS 3Q Net Profit Rose Ahead of Views
October 26 2021 - 1:39AM
Dow Jones News
By Cristina Roca
UBS Group AG's net profit for the third quarter rose 9% on year,
beating analysts' expectations.
The Swiss bank said Tuesday that net profit for the quarter rose
to $2.28 billion from $2.09 billion a year earlier. Analysts had
seen net profit at $1.40 billion.
Operating income for the quarter came in at $9.13 billion, up
from $8.93 billion last year and ahead of analysts' estimates of
$8.51 billion.
UBS said the market and economic backdrop were broadly positive
in the quarter despite some uncertainty.
Its CET 1 capital ratio, a measure of capital strength, stood at
14.9% on Sept. 30, compared with 14.5% at the end of the previous
quarter.
The bank will present its new strategic plan on Feb. 1, it
said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
October 26, 2021 01:24 ET (05:24 GMT)
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