TLDR
- UBS shares gain 1.86% after quarterly net profit reaches a strong $2.8 billion.
- UBS records $13.7 billion in revenue as its core banking businesses expand.
- Client assets hit a record $7.3 trillion as global wealth inflows stay strong.
- Credit Suisse integration savings reach $12.6 billion before final completion.
- UBS plans $3 billion in buybacks while preserving a strong 14.4% CET1 ratio.
UBS Group (UBS) shares rose 1.86% in pre-market trading to $52.99 after closing 0.97% lower at $52.03. The gain followed strong second-quarter earnings, steady client inflows, and expanded share repurchase plans. UBS reported $2.8 billion in net profit as Credit Suisse integration savings strengthened results.
UBS Reports Strong Profit and Revenue Growth
UBS generated $3.6 billion in second-quarter profit before tax, marking a 64% increase from the previous year. Underlying profit before tax reached $3.9 billion, while diluted earnings stood at $0.87 per share. The bank also delivered a 15.4% return on common equity tier one capital.
Reported revenue increased 13% to $13.7 billion, supported by broad growth across the main businesses. Underlying revenue rose 16% to $13.35 billion, while core business revenue increased 14%. Global Wealth Management and the Investment Bank provided the strongest contributions during the quarter.
Global Wealth Management underlying revenue climbed 14% to nearly $7 billion across all major revenue lines. Meanwhile, Investment Bank underlying revenue rose 31%, supported by record second-quarter Global Markets performance. Global Banking revenue increased 33% as capital markets activity strengthened across equity and debt services.
Client Assets Reach Record as Integration Advances
UBS ended the quarter with a record $7.3 trillion in group invested assets. Global Wealth Management attracted $36 billion in net new assets during the quarter. Asset Management added $6 billion in net new money, led by managed accounts and exchange-traded funds.
The bank also granted or renewed about CHF 40 billion in loans across Switzerland. Personal and Corporate Banking recorded CHF 2.2 billion in net new loans during the quarter. The division also added clients while supporting households and businesses with credit and advisory services.
UBS completed the global migration of former Credit Suisse client accounts in March 2026. Since then, the bank has entered the final phase of the integration process. Management expects to complete most remaining integration work by the end of 2026.
UBS Expands Buybacks and Maintains Capital Strength
UBS delivered another $1.1 billion in gross cost savings during the second quarter. Total savings reached $12.6 billion since 2022, representing more than 90% of its target. The bank expects gross savings of about $13.5 billion by the end of 2026.
More than 90% of targeted legacy Credit Suisse applications no longer remain in use. UBS has fully decommissioned about 70% of those systems as migration work continues. These steps support lower operating costs and a targeted cost-to-income ratio below 70%.
UBS maintained a 14.4% CET1 capital ratio and a 4.4% CET1 leverage ratio. The bank plans a $3 billion share repurchase program by the end of June 2027. It expects to repurchase at least $1 billion in shares during the next three months.
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