UBS reported $2.69 billion in third-quarter net profit and $55.1 billion in net new wealth-management assets on 28 October. Inflows were led by Asia-Pacific and the Americas. The bank raised its year-end gross savings expectation for the Credit Suisse integration to $13.7 billion, while keeping completion of the integration on course for the end of 2026.
Swiss bank UBS reported third-quarter net profit attributable to shareholders of $2.69 billion on 28 October. Profit before tax rose 27% from a year earlier to $3.587 billion. Total revenue increased 5% to $13.35 billion. On management’s underlying measure, which excludes specified items, pre-tax profit rose 14% to $4.077 billion, compared with underlying revenue of $13.387 billion.[1], [2]
Global Wealth Management attracted $55.1 billion in net new assets, led by Asia-Pacific and the Americas. Its underlying revenue increased 8% to $6.898 billion. Invested client assets across the group reached $7.3 trillion. Underlying revenue in Global Markets grew 17%, including a 22% increase in equities revenue. UBS granted or renewed approximately 40 billion Swiss francs of loans to Swiss businesses and households.[1]
Credit Suisse integration delivered another $0.6 billion in quarterly gross cost savings, bringing the cumulative total to $13.2 billion. UBS raised its year-end expectation from approximately $13.5 billion to $13.7 billion. Around 90% of legacy applications in scope had been fully decommissioned. The bank said integration remained on track for completion by year-end.[1]
