Reported 28 days ago
UBS Group exceeded profit forecasts in the third quarter, posting a net profit of $1.4 billion, driven by revenue growth and cost reductions. Despite the strong results, UBS shares fell 4.5% amid concerns over future regulatory changes and the bank's capital outlook. CEO Sergio Ermotti highlighted positive client momentum but cautioned that the bank is not yet back to pre-acquisition profit levels. UBS is progressing with the integration of Credit Suisse clients, anticipating completion of this process over the next 18 months.
Source: YAHOO