Excellent 4Q25 and FY25 performance with 4Q25 net profit up 56% YoY to USD 1.2bn. Return on CET1 capital (RoCET1) of 6.6% and underlying1 RoCET1 of 11.9%. Full-year net profit of USD 7.8bn, up 53%, RoCET1 of 10.8% and underlying1 RoCET1 of 13.7%
Franchise strength demonstrated by client momentum with Group invested assets exceeding the USD 7trn mark for the first time, up 15% YoY. High trading activity across Global Wealth Management and the Investment Bank underpinned by broad-based client engagement
A reliable partner for the Swiss economy; supporting clients with our leading credit offering and unique global capabilities and footprint. Granted or renewed ~CHF 80bn of loans in 2025
Excellent integrationprogress with ~85% of Swiss-booked accounts successfully transferred onto UBS systems; Personal & Corporate Banking account migration and Asset Management integration substantially completed; increased cumulative cost reductions to USD 10.7bn and continued the wind-down of Non-core and Legacy, reducing its risk-weighted assets to USD 28.8bn
On track to achieve 2026 exit-rate targets as we deliver on final stages of integration by year-end to capture synergies, notably executing on the remainder of the cost-saving program, including an additional USD 0.5bn identified across the Group
Further growth across our integrated franchise as we reinforce collaboration across divisions, regions and functions, applying our One Bank concept to the entire organization and leverage secular growth trends; unlocking new opportunities, including expansion of our offering and capabilities across high-net worth, alternatives, and banking
Set 2028 ambitions with~18% return on CET1 capital2 and ~67% cost/income ratio for the Group, driven by further sustainable growth and efficiency gains across our business divisions
Continued investments into our talent, offering, and technology, including delivering AI solutions at scale that drive performance, increase productivity and enable our people – supporting long-term sustainable growth
Balance sheet for all seasons with 14.4% CET1 capital ratio, 4.4% CET1 leverage ratio, and continued execution on our capital return plans, including completion of our USD 3bn share repurchase plan for FY25
Maintaining attractive capital returns with a plan to propose a dividend of USD 1.10 per share at the upcoming AGM, up 22% YoY; plan to accrue for mid-teens percent increase in dividend per share in 2026; intend to repurchase USD 3bn of shares in 2026 with an aim to do more3
Information in this news release is presented for UBS Group AG on a consolidated basis unless otherwise specified.
1 Underlying results exclude items of profit or loss that management believes are not representative of the underlying performance. Underlying results are a non-GAAP financial measure and alternative performance measure (APM). Refer to “Group Performance” and “Appendix-Alternative Performance Measures” in the financial report for the fourth quarter of 2025 for a reconciliation of underlying to reported results and definitions of the APMs. 2 Based on current capital framework and ~14% CET1 capital ratio 3 The amount of additional buybacks is subject to further clarity around the future regulatory regime in Switzerland, our financial performance and maintaining a CET1 capital ratio of ~14%
Third quarter
UBS’s third-quarter 2025 results
UBS Group CEO Sergio Ermotti comments on our results for the third-quarter of 2025.
3Q25 PBT of USD 2.8bn and underlying1 PBT of USD 3.6bn, net profit of USD 2.5bn, RoCET1 of 13.5% and underlying RoCET1 of 16.3%. Core businesses2 underlying PBT up by 28% YoY, or 19% excluding litigation
Strong client momentum with quarterly asset inflows supporting 4% sequential growth in Group invested assets to USD 6.9trn. Global Wealth Management net new assets of USD 38bn driving year-to-date NNA of USD 92bn. Asset Management invested assets passed the USD 2trn mark helped by USD 18bn in net new money in 3Q25
Strong trading and deal activity leveraging favorable environment. On underlying basis Global Wealth Management 3Q25 transaction-based income up 11% YoY, record third quarter for both Global Banking, up 52% YoY, and Global Markets, up 14% YoY
Excellent progress on integration with over two-thirds of Swiss-booked client accounts already migrated; substantially completed the integration of Asset Management. Delivered further USD 0.9bn in exit rate gross cost saves in the quarter bringing cumulative cost reductions to USD 10bn, one quarter ahead of schedule. This represents 77% of the USD ~13bn in expected gross saves by end-2026
Reliable partner for the Swiss economy, staying close to private clients and businesses. We are supporting them with our leading credit offering and unique global capabilities and footprint. Granted or renewed around CHF 40bn of loans during the quarter
Progress on Non-core and Legacy wind-down and litigation; active position exits contributing to a USD 1.9bn sequential reduction in risk-weighted assets to USD 30.7bn. Resolution of legacy UBS and Credit Suisse legal matters leading to Group net litigation reserve releases of USD 668m
Balance sheet for all seasons with 14.8% CET1 capital ratio, 4.6% CET1 leverage ratio, and continued execution on our capital return plans. Completed USD 1.1bn in share buybacks in 3Q25. With up to USD 0.9bn in repurchases planned for 4Q25 we are set to reach the USD 3bn total for 2025. Continued accruing for a double-digit growth in dividend
Positioning for long-term growth by investing strategically and executing on our plans. Submitted National Bank Charter application in the US. Sustained investments in Gen AI drive its usage and adoption across the firm. Continuing to contribute to the ongoing political process on banking regulation in Switzerland
Information in this news release is presented for UBS Group AG on a consolidated basis unless otherwise specified.
1Underlying results exclude items of profit or loss that management believes are not representative of the underlying performance. Underlying results are a non-GAAP financial measure and alternative performance measure (APM). Refer to “Group Performance” and “Appendix-Alternative Performance Measures” in the financial report for the third quarter of 2025 for a reconciliation of underlying to reported results and definitions of the APMs.
2Includes Global Wealth Management, Personal & Corporate Banking, Asset Management, the Investment Bank, and Group Items.
Second quarter
UBS’s second-quarter 2025 results
UBS Group CEO Sergio Ermotti comments on our results for the second-quarter of 2025.
2Q25 PBT of USD 2.2bn and underlying1 PBT of USD 2.7bn, net profit of USD 2.4bn, RoCET1 of 13.5% and underlying RoCET1 of 15.3%. Core businesses2 increased combined underlying PBT by 25% YoY
1H25 PBT of USD 4.3bn and underlying PBT of USD 5.3bn, net profit of USD 4.1bn, RoCET1 of 11.6% and underlying RoCET1 of 13.3%
Continued client momentum in a volatile environment supporting growth in Group invested assets, with Global Wealth Management 1H25 net new assets of USD 54.8bn. GWM 2Q25 transaction-based income +12% YoY and best second quarter in Global Markets with revenues up 25% YoY supported by record balances and revenues in Prime Brokerage
Integration remains on track with one-third of client accounts booked in Switzerland migrated. Delivered further USD 0.7bn in exit rate gross cost saves bringing cumulative cost reductions to USD 9.1bn, or 70% of the USD ~13bn in expected gross saves
Continued progress in Non-core and Legacy wind-down and legal entity structure simplification; NCL risk- weighted assets down by USD 1.5bn sequentially to USD 32.7bn
Maintained strong capital position with 14.4% CET1 capital ratio and 4.4% CET1 leverage ratio. Our ability to generate capital is funding strategic investments and sustainable shareholder returns
Delivering on our capital return plans for 2025, completed USD 0.5bn in share buybacks and plan to complete repurchase of up to USD 2.0bn in the second half of the year. Continued accruing for a double-digit growth in dividend
Reliable partner for the Swiss economy, staying close to private clients and businesses with our balance sheet for all seasons and leading credit offering. Granted or renewed around CHF 40bn of loans during the quarter
Positioning for long-term success by strengthening global capabilities and investing into future-ready infrastructure and tools, including Gen AI and cloud to enable secure, scalable delivery and boosting productivity. Meanwhile, actively engaging in debate on future regulatory requirements in Switzerland
Information in this news release is presented for UBS Group AG on a consolidated basis unless otherwise specified.
1Underlying results exclude items of profit or loss that management believes are not representative of the underlying performance. Underlying results are a non-GAAP financial measure and alternative performance measure (APM). Refer to “Group Performance” and “Appendix-Alternative Performance Measures” in the financial report for the second quarter of 2025 for a reconciliation of underlying to reported results and definitions of the APMs.
2Includes Global Wealth Management, Personal & Corporate Banking, Asset Management, the Investment Bank, and Group Items.
First quarter
UBS’s first-quarter 2025 results
UBS Group CEO Sergio Ermotti comments on our results for the first quarter of 2025.
1Q25 PBT of USD 2.1bn and underlying1 PBT of USD 2.6bn,net profit of USD 1.7bn, RoCET1 of 9.6% and underlying RoCET1 of 11.3%. Core businesses2 increased combined underlying PBT by 15%
Franchise strength demonstrated by continued client momentum; Global Wealth Management net new assets of USD 32bn; Asset Management net new money of USD 7bn, CHF 40bn of loans granted or renewed in Switzerland; GWM underlying transaction-based income up 15% YoY; record-high Global Markets underlying revenues, up 32% YoY
Integration remained on track; delivered further USD 0.9bn in exit rate gross cost saves bringing cumulative cost reductions to USD 8.4bn, or 65% of the expected USD 13bn. Swiss branch consolidation completed ahead of main waves of client account migrations, set to begin in the second quarter
Continued strong progress in Non-core and Legacy wind-down; risk weighted assets down by USD 7bn sequentially to USD 34bn
Balance sheet for all seasons underpinned by high-quality credit book with 93% of lending positions being collateralized; mortgages comprise 57% of loan book
Maintained a strong capital position with 14.3% CET1 capital ratio and 4.4% CET1 leverage ratio, providing a solid capital buffer to requirements during integration and given increased market volatility, while self-funding growth and returning capital to shareholders
Completed USD 0.5bn in share buybacks and reserved USD 2.5bn for planned share repurchases for the remainder of 2025; accruing a ~10% year-on-year growth in dividend
Continued to invest in technology and growth including GenAI and cloud, having completed the roll out of 50,000 Microsoft Copilot licenses to employees, as well as other tools, and increased cloud usage to ~75%; entered into an exclusive strategic collaboration with 360 ONE on wealth management in India and international markets
Information in this news release is presented for UBS Group AG on a consolidated basis unless otherwise specified.
1 Underlying results exclude items of profit or loss that management believes are not representative of the underlying performance. Underlying results are a non-GAAP financial measure and alternative performance measure (APM). Refer to “Group Performance” and “Appendix-Alternative Performance Measures” in the financial report for the first quarter of 2025 for a reconciliation of underlying to reported results and definitions of the APMs;
2Includes Global Wealth Management, Personal and Corporate Banking, Asset Management, the Investment Bank, and Group Items.
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