UBS posts quarterly profit of $2.4 billion

UBS posts quarterly profit of 2.4 billion dollars Keystone-SDA

In the second quarter of 2025, UBS earned significantly more than in the same period of the previous year amid restructuring and capital discussions.

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With a consolidated profit of $2.4 billion in the months from April to June 2025, UBS’s bottom line was more than twice as high as in the same period last year. The bank reported a pre-tax profit of $2.19 billion on Wednesday, which is almost half as much. Adjusted for various items, pre-tax profit totalled $2.68 billion (+30%). With these figures, Switzerland’s largest bank exceeded market expectations.

The bank’s income rose by 2% to $12.11 billion, while expenses fell by 6% to $9.76 billion. The cost/income ratio, which is important for a bank, was therefore 80.5%; on an adjusted basis, the figure was slightly better at 75.4%.

Optimistic for targets

In its core business – global wealth management – the big bank was able to acquire further client assets. Net new money inflows in this area totalled $23 billion. As a result, UBS managed assets totalling $6,618 billion across all areas of the Group at mid-year, up from $6,153 billion at the end of March.

UBS CEO Sergio Ermotti expressed his satisfaction. “Despite a start to the quarter characterised by exceptional volatility, we were able to continue our stable development,” he said in a statement. UBS had “maintained a solid and resilient balance sheet in any environment” and at the same time had “implemented its capital reduction plans”.

Looking to the future, UBS remains cautious as usual: the market for risk assets developed strongly at the beginning of the third quarter, it said. And investor sentiment remains largely constructive, albeit dampened by ongoing macroeconomic and geopolitical uncertainties. However, the company is confident of achieving its financial targets for 2025 and 2026.

Integration well on track

Progress is also being made with the integration of Credit Suisse. This is “still on track”, writes the bank. It even speaks of “excellent progress” in the transfer of client accounts from the former Credit Suisse in Switzerland.

The bank has completed the migration of Credit Suisse clients’ accounts booked outside of Switzerland as well as the first wave of migrations in Switzerland. It is therefore still “well on track” to complete the transfer of the Swiss booking centres by the end of the first quarter of 2026.

It has also made considerable progress in simplifying its legal structure in the United States and Europe, it added.

Further savings of 0.7 billion

As part of its cost-cutting programme, UBS also achieved additional gross savings of $0.7 billion in the second quarter. It further reduced its cost base in its Non-Core and Legacy (NCL) processing unit and at the same time realised cost synergies in its core businesses.

As a result, UBS has now achieved total savings of $9.1 billion, which corresponds to 70% of its plan. It is therefore well on track to achieve annualised gross cost savings of around $13 billion across the Group by the end of 2026.

Translated from German by DeepL/mga

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