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UBS reports its best third quarter for a decade, with a 99% hike in net profit – CNBC

The world’s largest wealth manager, UBS, reported a jump in net income to $2.1 billion for the third quarter, beating analyst expectations.

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LONDON The world’s largest wealth manager, UBS, reported a jump in net income to $2.1 billion for the third quarter on Tuesday, easily beating analyst expectations. It marks a 99% jump from the same period a year earlier.
Analysts had expected the Swiss bank and asset manager to report $1.5 billion of net income for the third quarter, according to data from Refinitiv Eikon.
UBS said pre-tax profit for the period rose 92% to $2.6 billion, in what it described as its best third-quarter result in…

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