UBS closed the third quarter of 2026 with a pre-tax profit of $3.6 billion and a net profit of $2.7 billion. This is according to the figures published on Wednesday.

Pre-tax profit was therefore 27 percent above the prior-year result. Revenue rose 5 percent to $13.35 billion; on an underlying basis, revenue was 10 percent higher at $13.39 billion. The core business segment recorded an increase of 3 percent compared with the prior-year period. 

Swiss business with notable growth

In Global Wealth Management, underlying revenue rose to $6.89 billion, which corresponds to an increase of 8 percent compared with the prior-year period. This was driven mainly by growth in recurring service income (+9 percent) and net interest income (+8 percent). The Investment Bank posted a record-high underlying revenue in the third quarter. This was primarily due to improved results in Global Markets to $2.55 billion (+17 percent). 

Assets under management stood at $7.3 trillion. In the third quarter, Global Wealth Management saw net new money inflows of $55.1 billion. This corresponds to an annualized growth rate of 4.5 percent. The funds came from all regions, especially APAC and the Americas. 

The Swiss business, which UBS operates under the name Personal & Corporate Banking, posted pre-tax profit of CHF 915 million, the best result in the past seven quarters. On an underlying basis, profit came in at CHF 813 million. Total revenue increased by CHF 65 million to CHF 1.93 billion. In addition to the strength of the services business, savings from the integration process are also becoming evident, among other factors. 

Integration process on the home stretch 

According to the information published on Wednesday, the merger of Credit Suisse into UBS is expected to be substantially completed by year-end. As of September 30, 2026, almost all old Credit Suisse IT applications slated for decommissioning were no longer in use, and around 90 percent of them had already been fully decommissioned. 

Financially, the integration process generated additional savings of $0.6 billion in the third quarter, bringing the total gross savings to $13.2 billion. UBS expects to exceed its target of $13.5 billion by year-end. It now speaks of total gross cost savings of $13.7 billion. 

Further share buybacks 

UBS made additional provisions in the third quarter for a dividend increase in the "mid-teens percentage range," according to the statement, and repurchased shares worth a total of $1.8 billion. The program, totaling $3 billion, is expected to be completed by the time the fourth-quarter results are reported. 

In February 2027, UBS plans to announce its ambitions regarding capital returns and distributions for 2027 together with its fourth-quarter and full-year financial results. According to finews calculations, an initial tranche of around $3.5 billion for share buybacks can be expected. 

The size and pace of the share buybacks will depend, among other things, on short-term financial results, the outlook, maintaining a hard common equity tier 1 (CET1) ratio of around 14 percent, and clarity regarding parliamentary deliberations on capital requirements for foreign holdings. 

Muted outlook

For the fourth quarter, UBS expects a seasonal slowdown in transaction volumes compared with the previous quarter. In Global Markets, the year-on-year comparison could be weighed down by the strong result in the fourth quarter of 2025, to which, among other things, a gain on disposal contributed.