This post was originally published on this site
The Swiss bank posted a net profit attributable to shareholders of $1.73 billion, outpacing the $1.53 billion forecast by 17 analysts in a company-gathered consensus.
Revenue came in at $8.2 billion, a marked drop from previous quarters this year.
Despite concerns around inflation, high energy prices, and geopolitical tensions, UBS saw a strong inflow of new money, attracting $17 billion in net new fee generating assets in wealth management and $18 billion of net new money in asset management.
“We remain confident in our ability to deliver attractive and sustainable capital returns to shareholders,” Chief Executive Ralph Hamers said in a statement.
UBS results follow a mixed quarter for big U.S. banks.
