UBS Beats Market Expectations, Reports 32% Rise in Profits

[kreslik.news]

UBS, a Swiss multinational investment bank and financial services provider, has reported better-than-anticipated third-quarter results this Thursday morning. Yet again, the results were driven by the firm’s investment bank which experienced higher loan volumes and solid growth in both equities and foreign exchange (forex) trading.

According to Reuters, analysts forecast that UBS would see a net profit of CHF 1.018 billion ($1.022 billion) in the third quarter of 2018. However, the bank managed to achieve a net profit of CHF 1.2 billion.

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This is a significant jump of 32 per ... (read more)