UBS Group AG announced a net profit of $1.4 billion for the third quarter of 2024, with total revenue increasing to $12.3 billion from $11.7 billion in the previous year.
Sergio P. Ermotti, the CEO of UBS Group, highlighted the bank's strong performance, which he attributed to its unique client franchises, global scale, and diversified business model. He also mentioned the ongoing integration of Credit Suisse and the bank's commitment to managing execution risk while maintaining cost and efficiency targets.
The operating profit before tax was $1.9 billion, while diluted earnings per share dropped to $0.43, a decrease of approximately 66% compared to the same quarter last year.