News Formal

UBS second-quarter net profit dips as Swiss business dampens trading bonanza

  • 📰 Reuters
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

UBS , the world's largest wealth manager, saw net profit drop 11% in the second quarter as higher trading activity failed to offset a pandemic-induced slump in retail and corporate banking.

), the world’s largest wealth manager, saw net profit drop 11% in the second quarter as higher trading activity failed to offset a pandemic-induced slump in retail and corporate banking.

The decline in net profit to $1.23 billion beat analyst expectations for earnings of $973 million in the bank’s own consensus summary of 21 analysts. In the first quarter, trading activity amongst UBS’s wealthy clients had more than offset the risk of increased defaults, helping the bank to a 40% net profit rise.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IBM earnings beat estimates on cloud strength; shares up 6%International Business Machines Corp posted second-quarter revenue and profit that beat analysts' estimates on Monday, riding on the strength of its high-margin cloud computing business, sending its shares up 6%. 😮 Who wudda thunk IBM....IBM.... Impervious to a nasty Virus....?
Source: Reuters - 🏆 2. / 97 Read more »