by Dismal-Jellyfish
The Swiss bank recorded a third-quarter cost-to-income ratio of 99.56%, representing a 10.61-percentage-point increase from the previous quarter.
UBS posted a third-quarter net loss attributable to shareholders of $785 million, compared to a $1.73 billion profit booked a year ago. Operating expenses surged 91% to $11.64 billion due to the ongoing integration of Credit Suisse, which the bank is aiming to complete and transition to a single US intermediate holding company by the first half of 2024.
