UBS profit jumps 17% in second quarter against "constructive" backdrop

29. Jul 2026

(AWP Alliance News) - UBS Group AG on Wednesday reported higher profit for the second quarter and guided modest income growth in the third quarter, as it noted "constructive" trading conditions.

The Zurich-based lender booked net profit of USD2.80 billion in the second quarter, up 17% from USD2.40 billion a year earlier.

Total revenue rose 13% to USD13.70 billion from USD12.11 billion, as net interest income jumped 22% to USD2.40 billion from USD1.97 billion.

Diluted earnings per share advanced to USD0.87 from USD0.72.

Return on equity was 12.3% in the second quarter, versus 10.9% a year prior, while return on tangible equity amounted to 13.4%, up from 11.8%. The bank's common equity tier one ratio remained flat on-year at 14.4%.

UBS completed a buyback programme in July and is continuing with another programme to repurchase shares worth USD3 billion, at the latest by the end of the second quarter of 2027. It plans to repurchase USD1 billion in shares over the next three months.

In the third quarter, UBS said expects modest growth in Global Wealth Management net interest income. In the second quarter, GWM net interest income increased by about 9% on-year to USD1.86 billion, due to "higher loan volumes, the effects from deposit pricing measures, a favourable deposit product mix, and positive foreign currency effects".

Personal & Corporate Banking net interest income is expected to be flat to slightly higher sequentially in the third quarter, after falling 4% on-year in the second quarter to USD1.06 billion.

"As we enter the third quarter, market conditions remain broadly constructive, supported by healthy client engagement, the continued broadening of market leadership and historically elevated equity dispersion. At the same time, ongoing geopolitical developments and volatile energy prices lead to high levels of uncertainty around the inflation and interest rate outlook. This could contribute to changes in macroeconomic conditions, periods of elevated volatility and more measured investor sentiment," UBS commented on Wednesday.

"We are focused on maintaining a high level of engagement with our clients as we execute on the final stages of the integration and as we continue to strategically invest in our franchise to drive long-term growth."

The bank said the integration of Credit Suisse is progressing well and is expected to completed by the end of the year.

Chief Executive Sergio Ermotti commented: "Almost three years ago, we presented our first set of consolidated results. From the beginning, I made it clear that the acquisition of Credit Suisse was not a gift that we received, but rather a prize that we would all have to fight to win.

As expected, the journey was not a straight line. It required a lot of hard work from my colleagues and painful decisions. Now these efforts are paying off and the extraordinary patience and support of our shareholders is starting to be rewarded. Strong results in the second quarter and healthy capital generation have further fortified our balance sheet for all seasons and allow us to continue deploying financial resources towards profitable growth opportunities to support clients and deliver on our capital return ambitions.

"We are well positioned to outperform our 2026 exit-rate return target and achieve our exit-rate cost/income ratio target. We remain firmly focused on staying close to our clients, completing the integration, executing our growth plans and managing risk with discipline."

UBS shares were up 2.4% to CHF43.46 each on Wednesday morning in Zurich.

By Holly Munks, Alliance News reporter

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