UBS Q2 Profit Rises, Despite Weak Net Interest Income - Quick Facts

(RTTNews) - Swiss banking giant UBS Group AG (UBS) reported Tuesday that its second-quarter net profit attributable to shareholders increased 9 percent to 1.28 billion Swiss francs from last year's 1.17 billion francs.

Earnings per share were 0.33 franc.

Profit before tax grew 12% year-over-year to 1.68 billion francs. Adjusted profit before tax went up 8% to 1.81 billion francs.

Total operating income increased 4 percent to 7.55 billion francs from last year's 7.27 billion francs. Net interest income, meanwhile , fell 30 percent from last year to 985 million francs.

Looking ahead, the company noted that in addition to typical seasonality factors in the third quarter, market volatility remains muted overall which is usually less conducive to client activity.

As in the first half of the year, the company expects the diversified business model to help us make continued progress towards achieving strategic and financial targets.