Oct 28 Bulgaria 2 Report from London Nejra Cehic

UBS's stock rose despite lower-than-expected profit growth in the third quarter. The bank set aside $2 billion for legal costs, easing investor concerns about future litigation expenses. CEO Sergio Mati mentioned improved estimates for addressing these issues. Wealth management profits increased, but investment banking faced losses due to legal provisions. The revenue outlook remains uncertain, with new concerns like the Ebola virus. UBS was not part of the ECB stress test, but Mati praised the ECB's efforts to mitigate European structural problems, urging politicians to address these issues.

Why did UBS's stock rise despite lower-than-expected profit growth?

• UBS set aside funds for legal costs, easing investor concerns.

• UBS launched a new product line.

• The bank announced a merger with another company.

• The bank reported a significant increase in revenue.

What did UBS CEO Sergio Mati say about the bank's approach to litigation issues?

• UBS will outsource its legal department.

• The bank will increase its legal provisions next year.

• UBS has a better estimate of how to handle litigation issues.

• The bank has no plans to address litigation issues.

Which UBS business unit saw an increase in profits?

• Investment Banking

• Retail Banking

• Corporate Banking

• Wealth Management

What new concern is mentioned in the transcript?

• The Ebola virus

• Brexit negotiations

• Climate change

• The rise of cryptocurrency

What did Sergio Mati say about the ECB's efforts?

• The ECB is doing a good job mitigating economic headwinds.

• The ECB is not addressing any economic issues.

• The ECB is focusing solely on inflation control.

• The ECB is planning to increase interest rates.