UBS bested profit estimates last quarter, but reported mixed revenue results across its segments.
Its net profit attributable to shareholders was US$2.40 billion in the second quarter, rising from $1.14 billion year-over-year and above LSEG estimates of $1.90 billion. Revenue was $12.11 billion, up 2% and below analyst expectations of $12.45 billion.
“We sustained robust momentum during a quarter that started with extreme volatility by staying close to our clients and executing on our integration plans. We also maintained a balance sheet for all seasons while delivering on our capital return plans,” said UBS CEO Sergio Ermotti.
“We are positioning for long term success by further enhancing our global capabilities, investing in our future infrastructure and AI, while actively engaging in the debate on future regulation in Switzerland. This allows us to fulfill our commitment to support all the communities where we live and work.”
Diluted earnings per share were $0.72, up from $0.34 one year ago. Net interest income was $1.97 billion, rising by 28%.
UBS’ return on tangible equity was 11.8% last quarter, compared to 5.9% in 2024’s June quarter. RoTE has been 10.2% across 2025 to date.
Global Wealth Management revenues were $6.30 billion, up 4% year-over-year, which the company credited to higher recurring net fee income and transaction-based income.
Personal & Corporate Banking revenues fell by 8% to CHF1.90 billion (US$2.36 billion), as net interest income fell.
UBS projects low single-digit percentage increases in its Global Wealth Management and Personal & Corporate Banking net interest income next quarter.
Switzerland’s government announced a series of regulatory measures on UBS last month that would require it to find another US$26 billion in core capital, as well as hold 100% of the capital in its foreign units at the parent bank. These rules have now been submitted to the country’s parliament, and if passed, will enter into effect no earlier than 2028.
UBS’ (NYSE: UBS) share price closed at $38.00, up from its previous close of $37.78. Its market capitalisation is $122.37 billion.
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