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GENEVA, July 28 (Xinhua) -- Swiss banking giants UBS and CreditSuisse on Friday both posted higher than expected profits for thesecond quarter of 2017 thanks to improved investor confidence.

UBS net profit for the half year climbed 14 percent at 1.17billion Swiss francs (1.21 billion U.S. dollars).

Credit Suisse posted net income of 303 million francs (313million dollars), above market forecasts and compared with profit ayear earlier of 170 million francs, a net profit jumping 78percent.

"Improved investor sentiment and enhanced confidence havetranslated into improvements in wealth management client activitylevels," UBS said in a statement.

Chief executive Sergio Ermotti said, "Considering marketconditions, the second quarter results were very good andcontributed to a strong first half of the year.

"Our global wealth management business in particular deliveredan excellent performance."

He said the results demonstrate the value of UBS' diversifiedbusiness model, allowing it to grow "profitably and sustainably" ina variety of market conditions.

Tidjane Thiam, chief executive officer of Credit Suisse, said,"We are now midway through the execution of our three-yearstrategic plan and our strategy is working."

He said the bank is making good progress by focusing on itsglobal wealth management opportunities after it restructured.Enditem