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10.11 - 19:22
UBS beats estimates with $2.3bn profit in third quarter aided by wealth unit
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fnlondon.comUBS Group said fees from wealthy clients soared in the third quarter and its investment bank also reaped more revenue.
The Swiss bank reported said its third-quarter net profit rose 9% to $2.28bn from $2.09bn a year earlier. Analysts expected a net profit of about $1.6bn. UBS said client activity was unusually high in the quarter and it expects it to slow down in the final three months of the year.
UBS’s...
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