The Swiss bank UBS recorded an attributable net profit of 8.530 billion dollars (7.650 billion euros) in the first nine months of 2026, which implies an increase of 29.9% compared with the result achieved by the entity in the same period of the previous fiscal year.
Between January and September, UBS's revenue amounted to 41.293 billion dollars (37.032 billion euros), 10.3% more than the income obtained a year earlier. Credit costs amounted to a charge of 305 million dollars (274 million euros), representing a decrease of 16.4%.
UBS's return on equity (RoE) in the first nine months of the year stood at 12.6%, compared with 10% the previous year, while return on tangible equity (RoTE) reached 13.6%, above the 10.8% of the same period of the previous fiscal year.
Between July and September, the Swiss group obtained an attributable net profit of 2.690 billion dollars (2.412 billion euros), 8.4% more year-on-year. Quarterly revenue totaled 13.350 billion dollars (11.976 billion euros), which represents an increase of 4.6% compared with the third quarter of 2025.
In the quarter, credit losses totaled 114 million dollars (102 million euros), 11.8% more than in the same period of the previous year.
At the end of the third quarter, the CET1 highest-quality capital ratio stood at 14.7%, compared with 14.4% in the previous three months and 14.8% recorded a year earlier.
In this context, the entity has announced its intention to complete the current share buyback program for 3.000 million dollars (2.690 million euros) coinciding with the presentation of the results for the fourth quarter of 2026, which are usually published in February. In this way, it advances the end date of the plan, which was previously expected to be completed around mid-2027.
However, UBS has indicated that the volume and timing of the buybacks will continue to be conditioned by short-term financial developments and outlook, with the aim of maintaining a CET1 ratio close to 14% and pending greater clarity on the deliberations of the Swiss Parliament regarding the capitalization of foreign subsidiaries.
"In an increasingly complex market environment, our solid performance in the third quarter once again demonstrated the benefits of our diversified global business model and our disciplined execution," commented Sergio P. Ermotti, CEO of UBS.
"As the political process on the future regulatory requirements in Switzerland advances, we will continue to engage constructively in the hope that Parliament reaches a solution that supports the country's financial stability without imposing excessive costs on UBS shareholders, clients and employees, and without affecting its long-term competitive position," added the banker.
Regarding its forecasts for the fourth quarter of 2026, UBS anticipates a typical seasonal sequential moderation in transaction volumes across all its business areas and expects to close 2026 with a CET1 capital ratio in line with or very close to the 14% target, including a possible provision linked to the initial phase of the share buybacks envisaged for 2027.
Integration with Credit Suisse
On the other hand, UBS has indicated that the integration with Credit Suisse, acquired in 2023, is progressing as planned and is expected to be "practically completed by the end of this year".
In this regard, the entity has underlined that, after having already achieved a gross cost reduction of 13.2 billion dollars (11.838 billion euros), of which 600 million dollars (538 million euros) correspond to the third quarter of 2026, it is confident of reaching a total cumulative saving of 13.7 billion dollars (12.286 billion euros), thus exceeding the previous estimate of approximately 13.5 billion dollars (12.107 billion euros).