ZURICH: UBS on Tuesday reported a 24% fall in third-quarter net profit on a decline in market activity, although it beat expectations due to a rise in client funds.
UBS results follow a mixed quarter for big US banks, also marked by choppy capital markets and slowing economic growth that hit investment banking.
The Swiss bank reported a net profit attributable to shareholders of $1.73 billion, outpacing the $1.53 billion forecast by 17 analysts in a company-gathered consensus.
Goldman Sachs’ consumer pivot solves one question, but makeover raises more
“We remain confident in our ability to deliver attractive and sustainable capital returns to shareholders,” Chief Executive Ralph Hamers said in a statement.
Comments
Comments are closed.