UBS Group reported a second-quarter 2026 net profit of USD 2.8 billion on profit before tax of USD 3.6 billion, and an underlying pre-tax profit of USD 3.9 billion, the Swiss bank said in an announcement published on its media site on 29 July.
Return on Common Equity Tier 1 capital reached 15.4% on a reported basis and 16.4% on an underlying basis, placing UBS's headline profitability metrics comfortably within the range the group has communicated to investors under its post-Credit Suisse integration plan.
WEALTH MANAGEMENT LEADS TOP LINE
Global wealth management revenues rose 13% year on year, one of the standout figures in the quarterly release and a reflection of the momentum the group has been building in its core franchise, which caters to high-net-worth and ultra-high-net-worth clients globally across the Americas, Asia-Pacific, Europe, Switzerland and the Middle East.
Invested assets across the group reached USD 7.3 trillion at the end of the quarter, underlining the scale of the wealth and asset management platform that sits at the heart of UBS's strategy following the completion of the Credit Suisse acquisition and the ongoing integration programme.
The strength of the wealth business, and the associated fee-based revenue streams, has been central to UBS's articulation of its investment case, and offers a diversification of earnings away from the more capital-intensive parts of the group. Wealth management has consistently been positioned by management as the anchor of the group's long-term earnings profile and the principal source of the return uplift the group has communicated to investors.
The 13% year-on-year expansion in global wealth management revenues is a meaningful data point given the size of the base, and reflects a combination of new money inflows, market-related asset appreciation and the traction of the group's client-facing initiatives across its regional franchises.
FIRST-HALF PROFIT REACHES $5.8 BILLION
For the first six months of 2026, UBS reported a net profit of USD 5.8 billion, taking the group past the mid-year mark with a robust base of earnings to build on for the second half. The half-year figure combines the second-quarter print with the earlier three-month result and provides a comprehensive view of underlying momentum.
The combination of a 15.4% reported RoCET1, a 16.4% underlying return, USD 5.8 billion of first-half profit and 13% wealth revenue growth provides a broadly supportive set of signals for investors evaluating the trajectory of UBS's post-integration financial performance and its capacity to sustain elevated returns. The gap between the reported and underlying return profile, at 15.4% and 16.4% respectively, illustrates the ongoing impact of integration-related items on headline metrics as the Credit Suisse programme continues to work through the group's accounts.
The results were published through UBS's investor communications channels alongside supporting presentation materials. Further commentary from management on strategic priorities and second-half execution is expected at subsequent investor engagements and industry conferences. Investors will focus on the pace of Credit Suisse integration cost savings, on wealth management net new asset inflows across regions, on capital return execution, and on the trajectory of underlying returns as the transformation programme progresses through the remainder of the year.