UBS Net Profit Beats Expectations
Provided by
Dow Jones
By Adria Calatayud
UBS Group reported a second consecutive quarterly net profit, beating analysts' expectations, as the Swiss banking giant continues to integrate former rival Credit Suisse.
The Zurich-based banking group said Wednesday that net profit was $1.14 billion compared with $27.33 billion for the same period last year, when it booked a $29 billion accounting gain on its takeover of Credit Suisse.
Analysts had forecast a net profit of $528 million, according to consensus estimates compiled by the bank.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
August 14, 2024 01:20 ET (05:20 GMT)
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