UBS profit jumps 63% in 2Q as wealth management boom continues

UBS is trying to improve its digital services to reach more customers outside its super-rich core client base.

ZURICH: Swiss bank UBS on Tuesday posted a 63% rise in second-quarter net profit, as buoyant markets continued to help the world's largest wealth manager generate higher earnings from managing money for the rich.

Second-quarter net profit of $2.01 billion, up from $1.23 billion in the same quarter a year ago, far outpaced expectations for $1.34 billion in a poll of 20 analysts compiled by the bank.