UBS posts 14% jump in Q3 profit, keeps cautious outlook for rest of 2017

Zurich

UBS, the world's biggest private bank, on Friday posted a 14 per cent year-on-year jump in third-quarter net profit but kept a cautious outlook for the rest of 2017 due to political and monetary policy uncertainty.

The three months to end-September saw earnings in wealth management again pick up after a sluggish 2016, in which trading activity by the Swiss bank's cadre of wealthy clients plunged to a record low.