UBS Q3 net profit hits $2.12B, warns on economic challenges

Swiss lender UBS reported a third-quarter net profit of 2.1 billion Swiss francs as the bank warned that many global economic challenges remain unlikely to be resolved for the foreseeable future. The net profit figure was up considerably on the same period last year– 762 million Swiss francs– thanks to a 1.3 billion Swiss franc net tax benefit.