UBS Pre-Tax Profits Jump 27% to $3.59 Billion in the Third Quarter

UBS reported a third quarter pre-tax profit of almost $3.6 billion.

UBS Pre-Tax Profits Jump 27% to $3.59 Billion in the Third Quarter

TL;DR

  • UBS reported a third-quarter pre-tax profit of $3.59 billion, up 27% year-on-year.
  • Net profits were $2.7 billion, meeting expectations.
  • Strong net inflows into global wealth management contributed significantly, with $55.1 billion in net new assets.
  • Client commitments across wealth management and asset management reached $12.5 billion.
  • The integration of Credit Suisse is on track for year-end completion, with projected cost savings of $13.7 billion.
  • The common equity tier 1 capital ratio rose to 14.7%.

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