BREAKING NEWS

BREAKING NEWS

Swiss bank UBS posts 946 million Swiss francs in third quarter net profit, up 14 percent

Now Reading:

Swiss bank UBS posts 946 million Swiss francs in third quarter net profit, up 14 percent

Text size Aa Aa

ZURICH (Reuters) – UBS <UBSG.S>, the world’s biggest private bank, said on Friday net profit rose 14 percent year on year to 946 million Swiss francs ($947.7 million) in the third quarter. This was lower than the median forecast in a Reuters poll of six analysts for 1.04 billion francs but ahead of the Swiss bank’s own consensus report published on Oct. 6 for 897 million francs. UBS’s common equity tier 1 capital ratio, an important measure of balance sheet strength which UBS uses to help decide its dividend, rose to 13.7 percent from 13.5 percent in the second quarter. Net new money inflows – a closely watched indicator of future earnings in money management – totalled 4.6 billion francs at its international wealth management unit and negative $2.3 billion at its North America wealth management business.

(Reporting by Joshua Franklin; Editing by Michael Shields)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.