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Swiss bank UBS posts 946 mln Sfr in Q3 net profit, up 14 pct
October 27, 2017 / 4:52 AM / a month ago

Swiss bank UBS posts 946 mln Sfr in Q3 net profit, up 14 pct

ZURICH, Oct 27 (Reuters) - UBS, the world’s biggest private bank, said on Friday net profit rose 14 percent year on year to 946 million Swiss francs ($947.7 million) in the third quarter.

This was lower than the median forecast in a Reuters poll of six analysts for 1.04 billion francs but ahead of the Swiss bank’s own consensus report published on Oct. 6 for 897 million francs.

UBS’s common equity tier 1 capital ratio, an important measure of balance sheet strength which UBS uses to help decide its dividend, rose to 13.7 percent from 13.5 percent in the second quarter.

Net new money inflows - a closely watched indicator of future earnings in money management - totalled 4.6 billion francs at its international wealth management unit and negative $2.3 billion at its North America wealth management business.

Reporting by Joshua Franklin; Editing by Michael Shields

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