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CORRECTED-UBS posts 2.1 bln Sfr net profit for Q3, ahead of expectations
November 3, 2015 / 6:06 AM / 2 years ago

CORRECTED-UBS posts 2.1 bln Sfr net profit for Q3, ahead of expectations

(Corrects to read billions in poll forecast, paragraph 2)

ZURICH, Nov 3 (Reuters) - UBS, Switzerland’s biggest bank, on Tuesday posted a bigger-than-expected year-on-year rise in third-quarter net profit.

Net profit for the three months to end-September was 2.1 billion Swiss francs ($2.13 billion), up from 762 million francs a year earlier and ahead of a forecast for 1.758 billion francs in a Reuters poll of four analysts.

Earnings for the same period last year were hit by the bank setting aside 1.8 billion francs in legal reserves.

$1 = 0.9870 Swiss francs Reporting by Joshua Franklin; Editing by Miral Fahmy

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