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10/20, 6:52 AM (Source: TeleTrader)
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UBS Q3 net income at $2.09B, up 99% YoY

UBS Group AG announced on Tuesday that its net income soared 99% year-on-year to $2.09 billion in the third fiscal quarter of 2020.

Total operating income jumped 26% on a yearly basis to $8.9 billion in the three months ending with September 30, 2020, while diluted earnings per share amounted to $0.56, a figure 100% higher compared to the same trimester in 2019. Operating profit before tax reached $2.6 billion after surging 92% from the corresponding quarter a year ago.

"Our third quarter results continue to demonstrate that our strategy is differentiating us as we continuously adapt and accelerate the pace of change. I am proud of the contributions all of our employees have made day in and day out over the years, particularly in the current challenging environment," Group CEO Sergio Ermotti commented in a press release.

Breaking the News / MS