UBS Group Swings to Net Loss as Credit Suisse Costs Weigh

UBS Group swung to a wider third-quarter net loss than analysts had expected after costs related the integration of Credit Suisse cut into the bank’s earnings.

The Swiss bank said Tuesday that its net loss was $785 million compared with $1.73 billion in net profit in the prior year, despite revenue rising 42% to $11.695 billion.