UBS on Tuesday reported a 16 per cent drop in third-quarter profit to 1.05 billion Swiss francs from a year earlier. Photo: AFP

UBS to seek full control of Chinese securities joint venture by 2020

  • UBS became first foreign lender to receive approval to take majority stake in its securities joint venture in December
  • Move comes as China has relaxed rules on foreign ownership of financial companies ahead of schedule
Topic |   Banking & Finance
UBS on Tuesday reported a 16 per cent drop in third-quarter profit to 1.05 billion Swiss francs from a year earlier. Photo: AFP
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