UBS operating profit before tax rises 27% to $3.587 billion in third quarter

Key Facts

UBS reported on October 28, 2026 that operating profit before tax reached $3.587 billion in the third quarter, up 27% year on year, while underlying profit was $4.077 billion, up 14%. Reported revenue was $13.350 billion, up 5% from the same period, while underlying revenue rose 10% to $13.387 billion. The bank also posted net profit attributable to shareholders of $2.690 billion and diluted earnings per share of $0.85. Before the announcement, analysts’ estimates pointed to earnings per share of $0.92 and revenue of $13.05 billion. Reported revenue therefore came in above estimates, while earnings per share fell short of expectations.

The year-on-year comparison shows operating profit before tax rising from $2.828 billion in the third quarter of 2025 to $3.587 billion in the third quarter of 2026. Over the same period, net profit attributable to shareholders increased from $2.481 billion to $2.690 billion. UBS presented profit and revenue on both a reported and underlying basis, with the adjusted figures under this measure recording faster growth. In global wealth management, net new assets totaled $55.1 billion during the quarter. These flows represented an annualized growth rate of 4.5%, with positive contributions from all regions, led by Asia-Pacific and the Americas.

The integration of Credit Suisse continued to feature in the bank’s results, with UBS saying the process remained on track for completion by year-end. Cumulative gross cost savings reached $13.2 billion, including $0.6 billion achieved in the third quarter. The bank expects cumulative savings to reach $13.7 billion by the end of 2026, exceeding its previous ambition of about $13.5 billion. These figures reflect the reductions the bank says it has achieved so far, as well as the higher target it has set for the rest of the year. The year-end deadline puts completion of the integration and savings among the issues investors will track as the next results are released.

Looking to the fourth quarter, UBS expected the usual seasonal moderation in transaction volumes across its businesses. It also expected investment banking revenues to increase compared with the third quarter, based on the current pipeline and assuming markets remain constructive. In wealth management, the bank expected net interest income to rise. On capital, it said it expected to end 2026 at or very close to its target CET1 capital ratio of about 14%. Its calendar set February 3, 2027 as the date for publishing fourth-quarter 2026 results.