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UBS has “higher conviction” to achieve three-year goals despite pandemic: CEO Sergio Ermotti

UBS announced its 2Q20 results on Tuesday. Overall net profit dropped 11% YoY and the profit before tax was down 10% YoY due to the elevated credit loss expenses. On the other hand, the bank achieved two of the 2020-2022 targets it formulated at the end of last year. Its 2Q20 return on common equity tier 1 capital was 13.2%,…

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