UBS extends winning streak in second quarter

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

ZURICH: Swiss bank UBS yesterday posted a 62.8% 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 US$2.01bil (RM8.5bil), up from US$1.23bil (RM5.2bil) in the same quarter a year ago, far outpaced expectations for US$1.34bil (RM5.7bil) in a poll of 20 analysts compiled by the bank.