UBS Posts $2.7 Billion Q3 Profit and Accelerates Credit Suisse Integration
UBS reported a Q3 2026 net profit of $2.7 billion driven by strong wealth management inflows and Credit Suisse integration progress. The bank raised its cost savings target to $13.7 billion while defending its global business model amid regulatory debates in Bern.
Swiss banking giant UBS reported its third-quarter financial results for 2026, posting a net profit attributable to shareholders of $2.7 billion, or $0.85 per diluted share. The bank achieved a Return on Common Equity Tier 1 (RoCET1) of 14.8% on a reported basis and 16.7% on an underlying basis.
Group pre-tax profit reached $3.6 billion, while underlying pre-tax profit rose to $4.1 billion, representing a 14% increase compared to the same period last year. This growth was supported by an improvement in the underlying cost-income ratio, which decreased to 68.7%.
Wealth Management Drive and Capital Strength
The primary growth engine during the quarter was the Global Wealth Management division, which recorded net new fee-generating assets of approximately $55.1 billion. Inflows were driven by robust activity in the Asia-Pacific region with $18 billion in net new assets, and the Americas with $17 billion. Total invested assets in the division approached $5 trillion, out of roughly $7.3 trillion across the entire UBS group. Meanwhile, the Global Markets division within the investment bank posted a 17% increase in revenues, led by equities and financing.
Alongside the financial figures, UBS reported accelerated progress in integrating Credit Suisse, ahead of its scheduled completion by the end of 2026. The bank has decommissioned roughly 90% of Credit Suisse IT applications and completed client account migrations. Driven by cost efficiencies, UBS raised its cumulative cost savings target to $13.7 billion by the end of the year, up from a previous target of $13.5 billion, having already achieved $13.2 billion in structural cost reductions since the merger began. Capital buffers remained robust with a CET1 ratio of 14.7%, and management confirmed it will continue its $3 billion share buyback program.
Regulatory Dialogue in Bern
Addressing the political and public debate in Bern regarding future capital and regulatory requirements for systemically important banks in Switzerland, UBS CEO Sergio Ermotti emphasized the bank's commitment to its global and diversified business model.
Ermotti noted that management will continue constructive dialogue with authorities, expecting the Swiss parliament to formulate a solution that preserves financial stability without imposing excessive costs on shareholders, clients, and employees, or undermining the bank's international competitiveness.
