By Ariane Luthi

ZURICH (Reuters) -UBS said third-quarter net profit surged 74% to $2.5 billion, handily beating expectations as revenues climbed amid financial market volatility caused by global tariff turmoil.

Net income attributable to shareholders of Switzerland’s biggest bank had been forecast to come in at $1.29 billion, according to an analyst consensus estimate compiled by UBS.

The release of legal provisions worth $688 million, mainly related to the resolution of Credit Suisse’s residential mortgage-backed securities business and a UBS case in France, contributed to the earnings beat.

UBS attracted $38 billion in net new money to its global wealth management division and $18 billion to asset management, bringing total invested assets close to $7 trillion.

Strong inflows from A

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