Swiss banking major UBS Group AG (UBS) reported Wednesday significantly higher profit in its third quarter with lower expenses and higher revenues.
Looking ahead, in the fourth quarter, the company expects net interest income in US dollars to remain broadly stable in each of Global Wealth Management and Personal & Corporate Banking.
The firm added that its reported net profit is expected to be influenced by integration costs of around $1.1 billion, partly offset by acquisition-related revenues of around $0.5 billion.
UBS said, "We are confident in our ability to deliver on our 2026 financial targets, leveraging the power of our diversified business model and global footprint."
In the third quarter, net profit attributable to shareholders climbed 74 percent to $2.48 billion from last year's $1.43 billion. Earnings per share were $0.76, up 77 percent from $0.43 a year ago.
The latest results included net litigation reserve releases of $668 million, mainly due to the resolution of legal matters related to Credit Suisse's Residential Mortgage-Backed Securities business and UBS's legacy cross-border activities in France.
Group operating expenses decreased 4 percent from last year to $9.83 billion.
Total revenues grew 3 percent to $12.76 billion from $12.33 billion last year. On an underlying basis, revenues increased 5 percent to $12.20 billion. Underlying revenues from core businesses increased 7 percent.
Net interest income increased 10 percent from the prior year to $1.98 billion.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.