Swiss bank UBS smashes third-quarter expectations with $1.4 billion in profit

Swiss banking titan UBS on Wednesday posted a large profit beat, after completing its first wave of client migrations following its integration of collapsed domestic rival Credit Suisse.Net profit attributable to shareholders came in at $1.43 billion, compared with a mean forecast of$667.5 million in a LSEG poll of analysts.UBS turned course back toward profit in the first quarter of 2024 after two quarterly losses tied to the takeover of stricken domestic rival Credit Suisse — an intensive, now completed ...