UBS (NYSE:UBS): Q3 net income of $2.09B beats by $0.52B.

Operating income of $8.94B, up 26% Y/Y.

The second tranche of 2019 dividend of $0.365 to be paid on November 27, 2020.

The company has established a $1.5B capital reserve for potential share repurchases reflecting strong capital generation by its businesses.

Outlook: Expects credit loss expense in Q4 to remain markedly lower than 1H20. Ongoing growth initiatives and other actions to drive net interest income should offset US dollar interest rate headwinds.

Shares +2.3% in Switzerland.

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