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UBS Profit Jumps 27% on Wealth Inflows

UBS lifted third-quarter pre-tax profit by 27% as wealth management clients added money, while chief executive Sergio Ermotti said the Credit Suisse integration remains on course to finish by the end of the year.

UBS Group (SWX: UBSG) reported third-quarter pre-tax profit of nearly $3.6bn today, up 27% on a year earlier. The result from the Swiss bank and wealth manager was broadly in line with forecasts.

Strong inflows into global wealth management helped lift performance.

UBSG.SW

Chief executive Sergio Ermotti said the integration of Credit Suisse, the former Swiss rival UBS took over, is firmly on track for completion by the end of the year.

Ermotti added that UBS remains committed to its global and regional footprint.

The year-end integration deadline is now the next milestone for the bank to meet.

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