ZURICH -- UBS AG Tuesday confirmed that it swung to a third-quarter net profit, its first following four consecutive quarterly losses after booking more than $46 billion in mortgage-related write-downs.

The Zurich-based bank said net profit for the period ended Sept. 30 was 296 million Swiss francs ($251.9 million), aided by a tax credit and gains on own credit, after a year-ago net loss of 858 million francs.


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