UBS beats market expectations with $2.8 billion quarterly profit

UBS beats market expectations with a quarterly profit of USD 2.8 billion Keystone-SDA

Swiss bank UBS posted significantly higher earnings in the second quarter of 2026. However, given the ongoing uncertainty surrounding the debate on stricter capital requirements in Switzerland, the major bank is taking a cautious approach to its timetable for further share buybacks.

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According to a statement released on Wednesday, consolidated profit for the period from April to June reached US$2.8 billion (CHF2.29 billion), an increase of 17%. However, a positive tax effect from the same period last year was no longer present, meaning that pre-tax profit was significantly higher year-on-year, at $3.59 billion – an increase of 64%.

Adjusted for restructuring costs, pre-tax profit stood at $3.89 billion (+45%). Meanwhile, the bank’s income rose by 13% to $13.70 billion, whilst expenses increased by 2.4% to $9.99 billion.

The cost-to-income ratio – a key metric for a bank – thus stood at 72.9%; on an adjusted basis, the figure was slightly better at 70%. With these figures, Switzerland’s largest bank has once again exceeded market expectations.

Global wealth management

In its core business – global wealth management – the major bank was able to attract further client funds. Net new money inflows in this segment amounted to $35.5 billion. As a result, by the middle of the year, UBS was managing assets totalling $7.3 trillion across all areas of the group, up from $6.8 trillion at the end of March.

Furthermore, UBS made further progress with the integration of Credit Suisse, which it acquired three years ago. The bank states that the year-end closure is “well on track”. More than 90% of the legacy applications are no longer in use, and around 70% have already been taken completely out of service.

Looking ahead, UBS remains, as usual, rather cautious. “At the start of the third quarter, the market environment remains broadly constructive, supported by solid client activity, an increasingly broad-based market leadership and historically high volatility in the equity market,” the bank states. At the same time, current geopolitical developments and volatile energy prices are leading to uncertainty regarding future inflation and interest rate trends.

Share buybacks over the next three months

A new share buyback programme is also to be launched, which envisages buybacks worth $3 billion by the end of the second quarter of 2027 at the latest. In this context, shares worth $1 billion are to be repurchased over the next three months. By July 17, 2026, UBS had repurchased shares worth around $2.3 billion.

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Translated from German, reviewed by an English Department journalist.