UBS posted a bigger-than-expected third-quarter net loss of $785 million, attributable to shareholders. This was due to $2 billion in expenses related to integrating fallen rival Credit Suisse. The bank's underlying operating profit before tax was $844 million, well ahead of consensus expectations. UBS CEO Sergio Ermotti said the bank made "very good progress" in its integration plans with Credit Suisse while seeing "very strong inflows from clients." Analysts saw the $844 million underlying profit as a "good set of results," notably ahead of expectations.