The Swiss bank thrived during the pandemic
After the largest banks in America posted their Q3 earnings,
it’s the European ones to do so.
UBS - The world's largest wealth manager, took markets
by storm when it posted better-than-expected quarterly results. The net income
figures came in at $2.1 billion, topping the $1.5 billion consensus. Also, it
represents a 99% increase from last year's numbers.
Its EPS also topped the expectations, coming in at $0.56,
higher than last year's $0.28.
The Swiss bank's revenue rose from $1.7 billion to $2.5
billion, while the global wealth management division's revenue increased to
$4.3 billion.
On November 27, UBS will pay the second installment of the
2019 dividends. Also, for the 2021 dividends, it accrued roughly $1 billion.
At the moment, UBS stock price is trading 6.43% higher.
Read here
about how the American banks have performed in Q3!
Sources: cnbc.com, markets.businessinsider.com
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