UBS meets expectations with $2.7 billion Q3 profit

UBS posted a net profit of $2.69 billion for the third quarter, 8% higher than a year earlier and close to the $2.71 billion consensus estimate, Business Recorder reported. The Swiss bank said wealth management attracted $55 billion in new net assets, including $18 billion from Asia and $17 billion from the Americas.

UBS said the Credit Suisse integration remains on schedule for completion by year-end and raised its end-2026 cumulative savings target to around $13.7 billion from around $13.5 billion. It bought back $1.8 billion of shares during the quarter and now expects to finish its $3 billion repurchase programme in February, while the pace and scale of future buybacks depend partly on Switzerland’s proposed capital rules.