Ubs Posts First Quarterly Loss Since 2017 On Credit Score Suisse Prices

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UBS posts first quarterly loss since 2017 on Credit Suisse costsUBS, Switzerland’s largest financial institution, reported a larger-than-expected lack of $785 million within the third quarter, its first quarterly drop since 2017. However, the financial institution acknowledged that it had stabilized Credit Suisse, which it acquired earlier this year, and generated $22 billion in net new money in its wealth administration business. UBS shares rose greater than three percent following the announcement. UBS plans to soak up Credit Suisse’s Swiss division and reduce 3,000 jobs by the top of 2026.

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