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UBS smashes Q2 profit forecasts thanks to its surging wealth-management business - but expects a drop in client activity in Q3

4 days ago   |   By Business Insider

Ralph Hamers, CEO of Swiss Bank UBS.
Associated Press
Swiss bank UBS beat second-quarter analyst expectations on Tuesday.
The bank's net profit came in at $2 billion, higher than the $1.34 billion analysts expected.
Its wealth management division generated a 47% increase in quarterly profit to $1.29 billion.
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Top Swiss bank UBS beat second-quarter profit expectations on Tuesday as it benefited from a boom in its wealth management business, but warned of a drop in client activity in the third quarter. UBS shares rose...
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UBS smashes Q2 profit forecasts thanks to its surging wealth-management business - but expects a drop in client activity in Q3

UBS smashes Q2 profit forecasts thanks to its surging wealth-management business - but expects a drop in client activity in Q3

4 days ago   |   By Business Insider

Summary List Placement Top Swiss bank UBS beat second-quarter profit expectations on Tuesday as it benefited from a boom in its wealth management business, but warned of a drop in client activity in the third quarter.
UBS shares rose 4% in regular European trading.
Here are the key numbers:
Net income: $2 billion versus Bloomberg consensus estimates of $1.3 billion
Wealth management pre-tax profit: $1.29 billion versus consensus estimates of $1.18 billion
Investment bank pre-tax profit: $668 million versus consensus estimates of $414.1 million
The bank attributed its quarterly success to...
Read more ...

 


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