UBS Reports Q3 Loss As Legal Provisions Offset Strong Operating Performance

Looking beyond the swelling legal expenses - something that remains a nagging issue for all global banking giants - UBS's results show a notable improvement in operating performance. The bank reported increased revenues across its operating divisions year-on-year, with its cornerstone wealth management operations churning out one of its best performances since the economic downturn of 2008 and the subsequent large-scale reorganization.