The Swiss bank UBS closed the first quarter of 2026 with a net profit attributable to shareholders of $3.04 billion, representing a 79.7% increase compared to the same period last year.
UBS’s net revenue through March reached $14.243 billion, 13.4% higher than in the first three months of the previous year, while the amount allocated to cover credit losses reached $70 million, a 30% decrease.
UBS’s net interest income for the quarter totaled $2.32 billion (€1.98 billion), a 42.4% increase, while fee income rose 14% to $7.728 billion.
Among the Swiss bank’s main business units, the global wealth management division generated $7.106 billion; the corporate business saw a 13.8% increase in revenue to $2.601 billion; investment banking grew 37.6% to $4.054 billion; however, asset management declined 3.5% to $772 million.
In the quarter, the bank successfully completed the migration of customer accounts after transferring all registered users in Switzerland to UBS platforms. This paved the way for substantially completing the integration with Credit Suisse by year-end and unlocked the potential for further growth and efficiency improvements.
During this period, UBS achieved additional cost reductions of $800 million, bringing cumulative savings to $11.5 billion.
At quarter-end, the CET1 capital ratio was 14.7% and the CET1 leverage ratio was 4.4%. Through March, share buybacks totaled $900 million, and the bank expects to repurchase a total of $3 billion for its second-quarter results, with the aim of increasing buybacks before year-end.
“We delivered excellent financial results and remain on track to meet our 2026 financial targets,” stated Sergio P. Ermotti, CEO of UBS, underscoring the volatile and unpredictable nature of the geopolitical and market environment during the first quarter.
“Following the successful transfer of all client accounts in Switzerland, we achieved another crucial milestone in one of the most complex integrations in banking history. We are confident that we will substantially complete the integration before the end of the year, positioning us for further sustainable growth,” the banker added.
Looking ahead to the second quarter, the Swiss bank noted that markets have remained generally resilient, reflecting the expectation that a lasting diplomatic solution to the Middle East conflict is possible, and therefore remains confident in achieving its 2026 financial targets.