The solid performance was driven by higher loan volumes and solid growth in both equities and forex trading.
UBS, a Swiss multinational investment bank and financial services provider, has reported better-than-anticipated third-quarter results this Thursday morning. Yet again, the results were driven by the firm's investment bank which experienced higher loan volumes and solid growth in both equities and foreign exchange (Forex) trading.
According to Reuters, analysts forecast that UBS would see a net profit of CHF 1.018 billion ($1.022 billion) in the third quarter of 2018. However, the bank managed to achieve a net profit of CHF 1.2 billion.
This is a significant jump of 32 percent from what the Swiss bank reported during the third quarter of 2017 and its also up around 15 percent from what analysts surveyed by Reuters expected.
Operating income was also up year-on-year, coming in at CHF 7.3 billion, which translates to an increase of almost 2 percent. Diluted earnings per share were also up from CHF 0.25 in the third quarter of 2017, to CHF 0.32 in the current period.
UBS Experiences Strong Uptick in Equities and Forex Trading
Taking a look at the firm’s investment bank unit, net interest income and other net income from fair value changes on financial instruments increased by CHF 53 million to reach CHF 1.1 billion.
This increase was thanks to a CHF 145 million uptick in Investor Client Services. In turn, this increase was due to improved trading performance and higher client activity levels in forex, rates, and credit. In addition, equities also saw an increase in trading activity, which resulted in higher revenues across all products and regions.
Commenting on the results, Sergio Ermotti, the Group Chief Executive Officer said: “our results for the quarter once again highlight the benefits of our diversification. They also demonstrate that we are pursuing a focused strategy in each of our business divisions, creating value for our clients and shareholders.”
UBS also warns that ongoing geopolitical tensions, rising protectionism, and trader dispute continue to degrade investor sentiment and confidence. However, while the firm believes that if this is to continue it will be negative for its global wealth management activity, it also highlights that increased volatility from these issues could be beneficial for its investment banking unit.
UBS, a Swiss multinational investment bank and financial services provider, has reported better-than-anticipated third-quarter results this Thursday morning. Yet again, the results were driven by the firm's investment bank which experienced higher loan volumes and solid growth in both equities and foreign exchange (Forex) trading.
According to Reuters, analysts forecast that UBS would see a net profit of CHF 1.018 billion ($1.022 billion) in the third quarter of 2018. However, the bank managed to achieve a net profit of CHF 1.2 billion.
This is a significant jump of 32 percent from what the Swiss bank reported during the third quarter of 2017 and its also up around 15 percent from what analysts surveyed by Reuters expected.
Operating income was also up year-on-year, coming in at CHF 7.3 billion, which translates to an increase of almost 2 percent. Diluted earnings per share were also up from CHF 0.25 in the third quarter of 2017, to CHF 0.32 in the current period.
UBS Experiences Strong Uptick in Equities and Forex Trading
Taking a look at the firm’s investment bank unit, net interest income and other net income from fair value changes on financial instruments increased by CHF 53 million to reach CHF 1.1 billion.
This increase was thanks to a CHF 145 million uptick in Investor Client Services. In turn, this increase was due to improved trading performance and higher client activity levels in forex, rates, and credit. In addition, equities also saw an increase in trading activity, which resulted in higher revenues across all products and regions.
Commenting on the results, Sergio Ermotti, the Group Chief Executive Officer said: “our results for the quarter once again highlight the benefits of our diversification. They also demonstrate that we are pursuing a focused strategy in each of our business divisions, creating value for our clients and shareholders.”
UBS also warns that ongoing geopolitical tensions, rising protectionism, and trader dispute continue to degrade investor sentiment and confidence. However, while the firm believes that if this is to continue it will be negative for its global wealth management activity, it also highlights that increased volatility from these issues could be beneficial for its investment banking unit.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!