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Financials

UBS posts Q2 net profit of 1.3 bln Sfr, beats poll

ZURICH, July 24 (Reuters) - UBS, Switzerland’s biggest bank, on Tuesday posted a 1.3 billion Swiss franc ($1.31 billion) net profit for the second quarter of 2018, beating analyst expectations, as it said global economic growth prospects provided a supportive backdrop to markets.

The 9 percent net profit rise put the bank’s second-quarter earnings above the median net profit estimate in a Reuters poll for 1.044 billion francs. Second-quarter pre-tax profit rose 12 percent to 1.7 billion francs, also above forecasts of 1.418 billion francs. (Reporting by John Miller)

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