The bank recorded an underlying operating profit before tax of $844 million, well ahead of consensus expectations.
Credit Suisse Wealth Management generated positive net new money inflows for the first time since the first quarter of 2022, contributing to inflows of $22 billion for UBS Global Wealth Management. "As we expected the beat is driven by better opex , 7% below consensus, with revenues also 1% ahead. This is then slightly offset by heavier provisions," they noted, adding that the acceleration of Wealth Management net new money inflows in September was also"encouraging."ended a 9 billion Swiss franc loss protection agreement
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