UBS Group posted third-quarter profit that was almost double expectations, reducing costs and boosting revenues and said it had completed the first wave of client migrations from Credit Suisse since acquiring its old rival last year.

Net profit attributable to shareholders came in at $1.43 billion, compared with a mean forecast of $667.5 million in a LSEG poll of analysts. UBS turned course back toward profit in the first quarter of 2024 after two quarterly losses tied to the takeover of stricken Credit Suisse.

UBS Group AG posted third quarter profit that almost doubled expectations, adding to evidence that the bank’s integration of Credit Suisse is on track. Most Read from BloombergNY Transit Agency Takes

UBS Group posted on Wednesday third-quarter profit well above forecasts, driven by higher revenue and cost reductions, and said it had completed the first wave of client migrations from Credit Suisse since acquiring its old rival last year.

Swiss banking giant UBS said Wednesday it earned a net profit of $1.4 billion in the third quarter, beating analyst expectations.

Swiss bank UBS reported a jump in wealth management revenues in the third quarter as profits soared higher than analysts expected. Still, CEO Sergio Ermotti warned of an economic soft landing and uncertainties in the U.

UBS Group on Wednesday reported a net profit of $1.4 billion attributable to shareholders in the third quarter, which compared with the $740 million forecast by analysts in a company-provided poll.

UBS, a major Swiss bank, on Wednesday reported a $1.43 billion net profit attributable to shareholders in the third quarter, a year after posting a revised loss of $715 million. Earnings per share were $0.

UBS Group on Wednesday reported a forecast-beating quarterly net profit of $1.4 billion helped by cost reductions and revenue growth as the bank carried out its first wave of client migrations from Credit Suisse since acquiring its old rival last year.