UBS's quarterly earnings were doped by $668 million in provisions that were released

UBS's quarterly earnings were doped by $668 million in provisions that were released

 Fabrice COFFRINI

Swiss banking giant UBS reported third-quarter earnings that beat analyst expectations, thanks in part to clawing back provisions for possible litigation, but also sustained by strong performances in its trading and wealth divisions.

The bank said it had earned a net profit of nearly $2.5 billion in the third quarter, a 74-percent increase from the same period last year.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.