UBS third-quarter pre-tax profit rises 27% to about $3.6 billion
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UBS reported third-quarter pre-tax profit of almost $3.6 billion, up 27% year on year and largely in line with consensus, with net profit of $2.7 billion. Its CET1 ratio reached 14.7%, up from 14.4%; global wealth management added $55.1 billion in net new assets and $12.5 billion in client commitments. The bank said Credit Suisse integration is on track to finish by year-end, with cumulative cost savings now put at $13.7 billion, above the earlier $13.5 billion target.
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