When a Bank's Bad Luck Becomes Someone Else's Boom The news that UBS has posted its cleanest quarter yet since absorbing Credit Suisse is a fascinating example of how a crisis can sometimes be turned into an opportunity.
The bank's net profit of $2. 8 billion in the second quarter far exceeded analyst expectations, with underlying pretax profit jumping 70% to $3. 89 billion.
UBS's wealth management division was a key driver of this success, pulling in $36 billion of net new assets in the quarter.