The wave of quarterly reports on international markets continues. This morning UBS also presented the results for the third quarter of 2017, which recorded a net profit of 946 million Swiss francs, an increase of 14,3% compared to the same period of the previous year.
The result beat analysts' expectations of 897 million francs. Pre-tax profit rose by 39% to 1,221 billion, while revenues grew by 1,7% to 7,1 billion Swiss marks, thanks to the good performance of net commissions (+4,6% to 4,2, XNUMX billion francs).
As regards the capital position of the Swiss bank, the Cet1 is equal to 13,7 per cent. UBS has pledged to return at least half of its net income to investors in the form of dividends provided CET1 remains above 13%. In an interview with Bloomberg, the managing director Sergio Ermotti anticipated that the bank will complete the dividend with a buyback plan.
