UBS lifts third-quarter profit to $2.69 billion

UBS increased its profit by 8% year on year to $2.69 billion in the third quarter of 2026, as revenue rose and costs fell, Swiss broadcaster SRF reported. The bank also said it was completing the final steps of its Credit Suisse integration.

Pre-tax profit reached $3.59 billion, up 27%. Excluding restructuring costs, pre-tax profit was $4.08 billion, a 14% increase. Revenue rose 5% to $13.35 billion, while expenses fell by almost 2% to $9.65 billion.

The bank’s cost-to-income ratio was 72.3%, or 68.7% on an adjusted basis. UBS attracted $55.1 billion in net new money to its global wealth management business. Assets under management across the group were nearly unchanged at $7.328 trillion at the end of September, compared with $7.326 trillion at the end of June. Asset management recorded net outflows of $5.1 billion.

UBS said it had achieved $13.2 billion in gross cost savings compared with 2022. It now expects savings to reach $13.7 billion by the end of this year, up from its previous forecast of about $13.5 billion. The bank said the substantial part of the Credit Suisse integration would be completed by year-end.

Looking ahead, UBS said investor sentiment was subdued at the start of the fourth quarter, citing increased macroeconomic volatility, geopolitical tensions and political uncertainty, including elections in the United States. It also expects transaction volumes to fall seasonally in the final quarter compared with the previous three months.

The bank plans to announce how much capital it will return to shareholders in 2027 when it reports fourth-quarter results in February. Its current $3 billion share buyback programme is expected to be completed by then. UBS said it would continue to take part in discussions over proposed tighter capital requirements in Switzerland.