UBS Group (NYSE: UBS) reported third-quarter revenues of $8.4 billion, down by 10.6% year-over-year. Earnings came in at $0.52 per diluted share in Q3, versus $0.63 in the same period last year but surpassing analysts’ estimates of $0.43 per share.
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The investment bank stated in its press release that it “continued to actively manage our deposit base which resulted in a 14% YoY increase in net interest income across GWM [global wealth management] and P&C [personal and corporate banking].”
UBS maintained a strong capital position with a “CET1 capital ratio of 14.4% and a CET1 leverage ratio of 4.51%, both significantly in excess of our guidance of ~13% and >3.7%, respectively.”