ZURICH: Banking giant UBS yesterday announced that its net profit had risen by 32 per cent in the third quarter to 762 million Swiss francs (RM2.62 billion). The leap of almost one third compared to the same period of 2013 was fuelled by 1.3 billion francs worth of tax credits. That helped offset 1.8 billion francs in new provisions for litigation and regulatory costs. UBS is among a group of international banks which are subject to investigations over alleged manipulation of interest rates on the foreign exchange market. AFP
To continue reading the rest of the article, click here