By Cristina Roca 
 

UBS Group AG's net profit for the third quarter rose 9% on year, beating analysts' expectations.

The Swiss bank said Tuesday that net profit for the quarter rose to $2.28 billion from $2.09 billion a year earlier. Analysts had seen net profit at $1.40 billion.

Operating income for the quarter came in at $9.13 billion, up from $8.93 billion last year and ahead of analysts' estimates of $8.51 billion.

UBS said the market and economic backdrop were broadly positive in the quarter despite some uncertainty.

Its CET 1 capital ratio, a measure of capital strength, stood at 14.9% on Sept. 30, compared with 14.5% at the end of the previous quarter.

The bank will present its new strategic plan on Feb. 1, it said.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

October 26, 2021 01:24 ET (05:24 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
UBS (NYSE:UBS)
Historical Stock Chart
From Nov 2021 to Dec 2021 Click Here for more UBS Charts.
UBS (NYSE:UBS)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more UBS Charts.