Here are the main UBS balance sheet items for the third quarter of the year. The Swiss banking giant announced that it reported a net profit down 24% on an annual basis, but better than analysts’ expectations.
Net income stood at $ 1.7 billion, better than the $ 1.64 billion forecast by the consensus.
UBS revenue stood at $ 8.3 billion, down from $ 9.1 billion in the same period last year.
Operating expenses fell to $ 5.9 billion, from $ 6.2 billion in the third quarter of 2021.
The CET 1 ratio fell to 14.4%, compared to 14.9% in the same period last year.
UBS’s investment banking division saw revenue drop by 19%, while the global wealth management division saw a 4% decline in turnover.
On the other hand, the turnover of the Personal and Corporate Banking division increased, benefiting from the effect of the rate hike by the Swiss central bank, the Swiss National Bank.