UBS, Credit Suisse prof­its on the rise

China Daily (Hong Kong) - - BUSINESS -

Swiss bank­ing giants UBS and Credit Suisse both posted higher than ex­pected prof­its for the sec­ond quar­ter of 2017 thanks to im­proved in­vestor con­fi­dence. UBS net profit for the half year climbed 14 per­cent at 1.17 bil­lion Swiss francs ($1.21 bil­lion). Credit Suisse posted net in­come of 303 mil­lion francs, above mar­ket fore­casts and com­pared with profit a year ear­lier of 170 mil­lion francs, a net profit jump­ing 78 per­cent. “Im­proved in­vestor senti-

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