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UBS GWM posts highest ever 3Q profit in APAC despite net outflows in region

UBS Global Wealth Management (UBS GWM) has posted a record 3Q21 pre-tax profit in Asia Pacific, despite the Swiss bank suffering net outflows of US$2.2 billion in new loans and US$1.8 billion in new fee-generating assets in the region. UBS declared on Tuesday that its 3Q21 earnings, which beat analysts’ estimates, featured its “best pre-tax profits on record” for the…

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