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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

UBS Q3 net profit is US$1.7b

UBS global wealth management division saw revenues drop five percent in the final quarter of 2022. (AFP)
  • The energy crisis had affected their retail and small business clients in Switzerland.
  • The CEO of UBS said clients are concerned about high inflation, elevated energy prices and the war in Ukraine,

ZURICH, SWITZERLAND – Swiss banking giant UBS on Tuesday reported a fall in net profits in the third quarter, though still better than expected against a backdrop of falling revenues at the investment bank.

Profits at Switzerland’s largest bank were down 24 percent to $1.7 billion from July to the end of September.

The firm also saw its income fall by 10 percent to $8.2 billion in the same period, in a global economic and political environment that the group’s chief executive Ralph Hamers described as “increasingly complex”.

“Clients remain concerned about persistently high inflation, elevated energy prices, the war in Ukraine and residual effects of the pandemic,” Hamers said in a statement.

He said the energy crisis was also having an impact, including on their retail and small business clients in Switzerland.

“The impact of all this has been far-reaching – affecting asset levels, market volatility, rates and investor sentiment across the globe.”

The figures nonetheless exceeded expectations, with analysts predicting a net profit of around $1.4 billion and revenues of $7.9 billion.

The bank’s revenues have dipped recently due to a fall in its mergers and acquisitions and a drop in income from market activity.

Income from its core wealth management operations also retreated year-on-year.

Large US retail banks have seen their profits fall in the last quarter amid a reduction in merger and acquisitions, stock market entries and fundraising.