UBS reported a strong third-quarter profit, surpassing analyst expectations due to successful client migrations and Credit Suisse integration. UBS’ Investment Banking division posted strong results with increased net income, while Global Wealth Management saw a dip due to lower deposit margins. UBS CEO Sergio Ermotti credited the bank’s diversified model and highlighted resilience amid economic challenges. UBS intends to complete a $1 billion share buyback and plans further repurchases in 2025. Analysts acknowledged UBS’ robust performance but raised concerns about being too-big-to-fail.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02UBS reported a strong third quarter profit surpassing analysts' expectations due to
00:06successful client migrations and Credit Suisse integration.
00:10UBS's investment banking division posted strong results with increased net income,
00:15while global wealth management saw a dip due to lower deposit margins.
00:19UBS CEO Sergio Ermadi credited the bank's diversified model and highlighted resilience
00:24amid economic challenges.
00:26UBS intends to complete a $1 billion share buyback and plans further repurchases in 2025.
00:32Analysts acknowledged UBS's robust performance,
00:35but raised concerns about being too big to fail.
00:38For all things money, visit Benzinga.com slash GSTV.