UBS Surpasses Integration Targets as Profits Surge

Revenue climbed to $13.35 billion, bolstered by strong performances across core divisions. Global Wealth Management saw underlying revenue rise to $6.89 billion, fueled by an 8 percent increase in both recurring service and net interest income. Simultaneously, the Investment Bank achieved record-high underlying revenue, driven largely by a 17 percent surge in Global Markets results to $2.55 billion. Assets under management reached $7.3 trillion, supported by $55.1 billion in net new money inflows from the APAC and Americas regions.

The integration of Credit Suisse is effectively concluding, with 90 percent of legacy IT applications already decommissioned. This efficiency has accelerated cost savings, with the bank now projecting total gross savings of $13.7 billion, surpassing its initial $13.5 billion target. Consequently, UBS has ramped up shareholder returns, repurchasing $1.8 billion in shares during the quarter and signaling a dividend increase in the mid-teens percentage range. While the bank anticipates a seasonal slowdown in the fourth quarter, it remains committed to maintaining a CET1 capital ratio of approximately 14 percent as it prepares to outline further capital distribution plans in early 2027.