Ubs Group Ag Stock Earnings Reports

UBS reported a strong Q2 2026 with broad-based revenue and profit growth across its core franchises. Group revenues rose 16% to $13.3bn, underlying pretax profit was $3.9bn (up 45% YoY) and return on CET1 capital was ~16–17%. Invested assets hit a record $7.3tn, driven by robust inflows into Global Wealth Management (GWM) and Asset Management, while the Investment Bank delivered a record quarter, particularly in equities and capital markets, without materially expanding the balance sheet. Cost and integration progress remains a key theme: cumulative gross cost savings of $12.6bn since end-2022 (on track for $13.5bn by year-end), headcount down ~28% vs 2022, and >90% of legacy applications decommissioned as the Credit Suisse integration nears completion. Capital and shareholder returns: CET1 ratio was 14.4% at quarter end, and the board launched a new $3bn buyback program to be completed by no later than Q2 2027 (with at least $1bn targeted in the next three months), noting timing is subject to performance, maintaining ~14% CET1 and Swiss Parliament deliberations on foreign-subsidiary capitalization. Division highlights: GWM pretax profit +38% with strong mandate penetration and lending momentum; Personal & Corporate Banking (Switzerland) returned to growth with loan renewals and expanding client activity; Asset Management AUM >$2.2tn but revenues impacted by the prior O’Connor sale; Non-core & Legacy continuing to shrink with operating expenses (ex-litigation) expected to exit 2026 around $400m. Management reiterated confidence in meeting or exceeding 2026 exit-rate ROE and cost/income targets, while cautioning on macro/geopolitical uncertainty, potential volatility in rates and inflation, and ongoing adviser turnover pressure in U.S. wealth (expected to normalize through 2026).