UBS reported a consolidated profit of $2.8 billion for the second quarter of 2026, a 17% increase from the prior-year period, while pre-tax profit surged 64% to $3.59 billion — or $3.89 billion when stripped of significant restructuring charges tied to the Credit Suisse takeover.
Total income climbed 13% to $13.70 billion, outpacing a modest 2.4% rise in operating expenses and pushing the adjusted cost-to-income ratio down to 70%.
Wealth management remained a standout segment. Net new money flowing into UBS's Global Wealth Management division reached $35.5 billion during the quarter, lifting total assets under management to $7.3 trillion from $6.8 trillion at the end of Q1.
The bank also made further progress on its Credit Suisse integration, stating that more than 90% of legacy applications from the acquisition are officially out of use, with 70% fully decommissioned. Leadership said the three-year integration journey is "well on track" for closure by year-end.
On capital return, UBS announced a new $3 billion share-buyback program scheduled to conclude by mid-2027, with $1 billion planned for the next three months. However, the bank acknowledged continued caution regarding future buybacks and broader capital distribution, citing ongoing debates in Switzerland over stricter capital requirements, higher cash reserves, and systemic-risk management.
At the start of the third quarter, UBS said the market environment remains "broadly constructive," supported by solid client activity.
The regulatory backdrop centers on frictions between Switzerland's largest bank and authorities in Bern over post-crisis capital standards. UBS has signaled that any further acceleration of share repurchases will depend on clarity from regulators on how much additional capital the bank may be required to hold.
