UBS' Q3 EPS misses estimates; bank to continue to engage with government on capital needs

What happened: UBS Group (UBS) reported third-quarter earnings that missed analyst expectations, and CEO Sergio Ermotti said the bank will continue to engage with the government on proposed new capital requirements. Key numbers: Diluted EPS $0.85 versus $0.76 a year ago and $0.87 in Why it matters: Ermotti said UBS hopes Parliament will reach a solution supporting financial stability without imposing undue costs on shareholders, clients, and employees or impacting its long-term competitive position. For Q4, UBS expects a more typical sequential seasonal moderation in transaction volumes. Coverage: 3 outlets in 24h

UBS Group (UBS) reported third-quarter earnings that missed analyst expectations, and CEO Sergio Ermotti said the bank will continue to engage with the government on proposed new capital requirements.

Ermotti said UBS hopes Parliament will reach a solution supporting financial stability without imposing undue costs on shareholders, clients, and employees or impacting its long-term competitive position. For Q4, UBS expects a more typical sequential seasonal moderation in transaction volumes.