Credit Suisse takeover drags UBS into the red in Q3

Credit Suisse takeover drags UBS into the red in Q3

FILE PHOTO: The logo of Swiss bank UBS is seen at the bank's branch in Shanghai, China, March 20, 2023. REUTERS/Aly Song/File Photo

UBS Group posted a $785 million loss in the third quarter after expenses tied to the Swiss bank’s takeover of Credit Suisse while signalling that its core wealth business is stabilising.