UBS’s third-quarter net profit rose 74 per cent to $2.5bn, supported by strong client inflows, lower legal costs and progress on integrating Credit Suisse.
Its key wealth management arm posted a $1.8bn underlying profit before tax, up 39 per cent from the previous year, with $38bn in net new assets and strong inflows from Asia and Europe.
The bank said on Wednesday that it had migrated more than two-thirds of Swiss-booked client accounts from Credit Suisse and achieved $10bn in cumulative cost savings.
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