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ubs reports strong third quarter earnings amid credit suisse integration efforts

UBS reported a third-quarter net income of $1.4 billion, surpassing analyst expectations of $740 million, driven by cost reductions and revenue growth amid client migrations from Credit Suisse. Total group sales reached $12.3 billion, exceeding the consensus of $11.5 billion. The bank is progressing with the integration of Credit Suisse, having completed the first wave of client migrations, while facing regulatory scrutiny aimed at preventing future financial collapses.
07:10 30.10.2024

ubs reports strong quarterly profit amid credit suisse integration efforts

UBS Group reported a third-quarter net profit of $1.4 billion, surpassing analyst expectations of $740 million, driven by cost cuts and revenue growth amid client migrations from Credit Suisse. Consolidated revenue reached $12.3 billion, exceeding the $11.5 billion forecast. The bank is progressing with the integration of Credit Suisse, having completed the first wave of client migrations, while facing regulatory scrutiny regarding capital requirements to prevent future collapses.
07:10 30.10.2024

ubs reports strong third quarter profit of 1.43 billion dollars

UBS reported a third-quarter profit of $1.43 billion, significantly surpassing analysts' expectations of $825 million. Operating revenues rose 5% to $12.33 billion, while cumulative profits for the year reached $4.32 billion, aided by a $25 billion inflow in its asset management sector. The bank's shares hit a new annual high of 29.57 francs, reflecting strong investor confidence following the successful integration of Credit Suisse.
07:08 30.10.2024

ubs reports strong third quarter profit surpassing analyst expectations

UBS reported a net profit of $1.4 billion for the third quarter, significantly exceeding analysts' expectations of $740 million. The Swiss bank's total revenue reached $12.3 billion, surpassing the forecast of $11.5 billion, driven by strong client momentum, particularly in the Americas and APAC. CEO Sergio Ermotti highlighted impressive revenue growth amid a volatile market backdrop.

ubs reports strong third quarter profit and advances credit suisse integration

UBS reported a net profit of $1.4 billion for Q3 2024, exceeding expectations, driven by strong customer activity in the Americas and APAC. The bank made significant strides in integrating Credit Suisse, with asset inflows of $25 billion and a 15% year-on-year increase in assets under management to $6.2 trillion. Cost savings also surpassed targets, with $0.8 billion achieved in the quarter, while UBS remains cautious about economic growth prospects in the coming months.
07:03 30.10.2024

UBS reports strong quarterly profit and advances Credit Suisse integration efforts

UBS reported a quarterly profit of USD 1.43 billion for Q3 2024, significantly exceeding market expectations and recovering from a loss of USD 715 million in the same period last year. The bank is making substantial progress in integrating Credit Suisse, with net new money inflows of USD 24.7 billion and a commitment to achieving targeted cost savings of around USD 13 billion by the end of 2024. Despite a positive market environment, UBS remains cautious about future economic conditions, influenced by geopolitical tensions and upcoming US elections.
06:57 30.10.2024

UBS reports strong profit growth amid successful Credit Suisse integration

UBS reported a profit of $1.43 billion for Q3 2024, significantly surpassing market expectations and recovering from a $715 million loss in the same quarter last year. The bank's strong performance is attributed to successful integration efforts with Credit Suisse and a net inflow of $24.7 billion in new money, bringing total managed assets to $6.2 trillion. UBS remains focused on achieving its cost-saving targets while maintaining its dividend and share buyback plans for 2025 and 2026, despite a cautious outlook amid geopolitical tensions and economic uncertainties.
06:56 30.10.2024

ubs reports strong quarterly profit amid successful credit suisse integration

UBS reported a profit of USD 1.43 billion for Q3 2024, significantly exceeding market expectations and marking a turnaround from a loss of USD 715 million in the same quarter last year. The bank's restructuring and integration of Credit Suisse are progressing well, with gross cost savings of USD 0.8 billion achieved. UBS remains committed to its dividend and share buyback targets for 2025 and 2026, despite a cautious outlook amid geopolitical tensions and economic uncertainties.
06:55 30.10.2024

ubs reports strong third quarter profit of 1.4 billion dollars

UBS reported a net profit of $1.43 billion for the third quarter, significantly surpassing analyst expectations of $667.5 million, following the completion of initial client migrations from Credit Suisse. The bank aims for $7 billion in savings from the integration by the end of 2024, amid challenges in merging IT systems and navigating a changing economic landscape. CEO Sergio Ermotti faces pressures from geopolitical volatility and competition from U.S. banks, while the Swiss economy shows signs of stability with low inflation.

ubs reports strong third quarter profit of 1.4 billion dollars

UBS reported a net profit of $1.43 billion for the third quarter, significantly surpassing analyst expectations of $667.5 million, driven by successful client migrations from Credit Suisse. The bank's revenue reached $12.33 billion, and it anticipates completing a $1 billion share buyback program in Q4. Despite challenges in integrating IT systems and client accounts, UBS aims for $7 billion in savings from the Credit Suisse acquisition by the end of 2024.
06:54 30.10.2024
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