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.
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Business News
September 11, 2026 16:26 ET Consumer prices data was the main news on the economic front in the U.S. this week. In Europe, the latest interest rate decision from the European Central Bank was the focus along with the revised second quarter economic growth data for the euro area. In Asia, the monthly foreign trade data from China drew attention.