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UBS posts US$1.1bil net profit in Q2, easily beating forecast

The Star LogoThe Star3h ago

UBS posts US$1.1bil net profit in Q2, easily beating forecast - The Star

Quick Summary:

ZURICH: UBS on Wednesday reported a net profit of $1.14 billion for the April-June period, comfortably surpassing analysts' forecasts as Switzerland's largest bank enters a new stage in the integration of its one-time rival Credit Suisse.

Swiss authorities oversaw the first merger of two global systemically important banks - as designated by the Financial Stability Board - in the first half of last year.

It also saw moderate net interest income headwinds from ongoing mix shifts in Global Wealth Management and the effects of the Swiss National Bank's second rate cut, not yet captured in UBS's deposit pricing in Personal & Corporate Banking.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 14:02:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 664 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22073032

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About The Star

The Star Logo

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 38 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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  • URL: https://beamstart.com/news/ubs-posts-us11bil-net-profit-17236163007567

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