UBS shares fell nearly 6% on Tuesday after the Swiss bank revealed a bigger-than-expected Q3 loss as its private banking operations continued to haemorrhage funds. Swiss and international clients withdrew a net SFr16.7bn ($16.2bn) from the bank in the third quarter, while US customers took out a further net SFr9.9bn. The withdrawals followed net Q2 outflows of SFr16.5bn. Overall, UBS suffered a SFr564m Q3 loss compared with a year-earlier net profit of SFr296m and a loss in Q2 this year of SFr1.40bn.
