Overview
- UBS reported second-quarter net profit of $2.8 billion, a 17% rise that topped analyst forecasts and underpinned the bank’s new capital plan.
- The board authorized a $3 billion share repurchase program to run through June 2027 and said it will buy at least $1 billion of stock in the next three months.
- Revenue and profit strength came from broad growth across businesses, led by record trading in global markets and $36 billion of net new assets in global wealth management.
- Management said Credit Suisse integration is on track to finish by the end of 2026 and that the bank added $1.1 billion of gross cost savings in Q2, bringing cumulative savings to $12.6 billion.
- UBS warned that the pace and size of further buybacks depend on short-term results and the outcome of Swiss debates over an additional capital buffer that could reduce the bank’s ability to return cash to shareholders.