UBS Books Higher Third-quarter Profit as Credit Suisse Integration Nears Completion

06:56 AM EDT, 10/28/2026 (MT Newswires) -- UBS Group (UBSG.SW) delivered a year-over-year increase in third-quarter profit, bolstered by strong client momentum across its businesses, as it moves closer to completing the integration of Credit Suisse. The Swiss banking group's net profit attributable to shareholders reached $2.69 billion in the three months ended Sept. 30, up from the year-ago $2.48 billion, it said in a Wednesday earnings release. Total revenue also rose over the period to $13.35 billion from $12.76 billion, while operating expenses declined to $9.65 billion from $9.83 billion, including integration-related expenses and purchase price allocation effects. "The breadth and depth of our global franchise and our unwavering commitment to serving our clients were reflected in robust client momentum, including USD 55 billion of net new assets in Global Wealth Management, with particularly strong inflows in APAC and the Americas. Against the current backdrop, we are staying close to clients to help them navigate the market conditions and capture opportunities," Chief Executive Officer Sergio Ermotti said. UBS also provided an update on the integration of Credit Suisse into the group, saying the final phase is progressing as planned and is on track to attain "substantial completion" by the end of 2026. Looking ahead, UBS expects global banking revenue to increase sequentially in the fourth quarter, while net interest income, in Swiss franc terms, is forecast to grow by a low-single-digit percentage sequentially in global wealth management and rise "slightly" in personal and corporate banking. By 2026-end, the group expects its common equity Tier 1 capital ratio to stand at or very close to its target of 14%, including a potential accrual for the initial portion of its planned 2027 share buybacks. Regarding Switzerland's proposed capital reforms, Ermotti said the group remains committed to its diversified business model and global and regional footprint. "As the political process on future regulatory requirements in Switzerland progresses, we will continue to engage constructively in the hope that Parliament will reach a solution that supports the country's financial stability without imposing undue costs on UBS's shareholders, clients and employees and without impacting its long-term competitive position." UBS shares were trading nearly 2% lower as of midday Wednesday.