UBS global structured products sales fall YoY

UBS has posted a profit before tax (PBT) of US$2.8 billion (up 11% YoY), including net credit loss releases of US$14m, in the third quarter of 2021. The Swiss bank has seen operating income increase two percent YoY, while operating expenses decreased by one percent. Net profit attributable to shareholders was US$2.2 billion (up nine percent YoY). During the first nine months of 2021, UBS global wealth management (GWM) saw US$80 billion of net new fee-generating assets with inflows in all regio