UBS posted a sizable net loss in its first full quarter combined with Credit Suisse, but said wealthy customers are flocking to the bank with new investments and deposits. The $785 million net loss for the quarter was higher than some analysts were expecting, and reflected the jump in costs from the two banks combining. UBS shares rose about 3% in morning trading in Zurich, keeping them well above the pre-Credit Suisse takeover level from March.
Costs of $11.6 billion, nearly double the $5.9 billion at UBS alone in third-quarter 2022. Putting together the two global banks pushed up costs across UBS, including to pay departing staff and retain some of those staying. Here are some cost highlights: Integration costs were $2 billion of the total $11.6 billion. Integration-related personnel expenses for severance and to support retention were around $1 billion. Higher salaries and variable compensation added around $2.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: AP - 🏆 728. / 51 Baca lebih lajut »
Stock Market Today: Stocks extend run as markets see Fed rate cuts on the horizionStocks will enter this week much as they ended last, with investors looking for Fed rate cuts amid a modestly slowing economy and a cooling labor market.
Sumber: startelegram - 🏆 248. / 63 Baca lebih lajut »
Sumber: WSJ - 🏆 98. / 63 Baca lebih lajut »
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »