Reported 27 days ago
UBS Group AG reported a net income of $1.4 billion for the third quarter, almost double analysts' expectations, driving shares to their highest levels since 2008, despite broader market uncertainties and regulatory risks on the horizon. The CEO warned about potential volatility due to geopolitical events, particularly related to the upcoming U.S. elections and declining global interest rates. While UBS is making progress in integrating Credit Suisse and cutting costs, the bank faces uncertainty regarding future capital requirements as the Swiss parliament investigates the Credit Suisse crisis.
Source: YAHOO