World

UBS Revenues Q3 2021

FABRICE COFFRINI | AFP | Getty Images

UBS Analysts’ expectations were exceeded in the third quarter as the wealth management department continued to outperform.

Swiss banks reported on Tuesday that net income attributable to shareholders for the period was $ 2.3 billion, starting at $ 2 billion in the second quarter. Analysts expected this figure to be $ 1.57 billion, according to estimates collected by Refinitiv.

Net income increased 9% year-on-year.

“The market and economic background in the third quarter was generally strong. There has been some uncertainty lately,” CEO Ralph Hammers said in a statement.

The bank’s wealth management department has greatly boosted the results. once again, Investment assets have risen to $ 3.2 trillion. Profit before tax increased 43% to $ 1.5 billion.

Other highlights for the third quarter are:

  • The CET1 ratio, a measure of a bank’s solvency, has reached 14.9%, compared to 14.5% in the last three months.
  • Operating income was $ 9.1 billion, compared with $ 9 billion in the previous quarter.
  • Return on equity, an indicator of financial performance, increased from 13.7% in the second quarter to 15.3%.

Bank stocks are up about 24% so far.

This is the latest news and is updated.

UBS Revenues Q3 2021

Source link UBS Revenues Q3 2021

Back to top button