UBS Buyback After Strong Second Quarter Results

On July 29, 2026, UBS Group AG reported stronger-than-expected second-quarter results and launched a UBS buyback program. Management linked these moves to momentum in its wealth and investment-bank businesses and the near completion of the Credit Suisse integration, which influence capital planning.

Quarterly Results and Capital Return Plans

UBS reported second-quarter net profit of USD 2.8 billion on revenues of USD 13.7 billion, a 13% increase year over year, with group invested assets reaching USD 7.3 trillion, according to an ad hoc announcement. Return on common equity tier 1 (CET1) capital, a measure of financial strength, stood at 15.4% (16.4% underlying) at quarter-end. The Investment Bank posted record quarterly revenue near USD 3.7 billion and pre-tax profit around USD 1.2 billion, while wealth management units recorded strong net inflows that boosted invested assets.

Following these results, UBS announced a new share-repurchase program to buy back up to USD 3.0 billion of registered shares. The bank plans to repurchase at least USD 1.0 billion within three months of the announcement, with the remainder expected by mid-2027. This tranche follows the completion of a prior USD 3.0 billion buyback earlier in July. The repurchase framework, established in February 2026, authorizes up to USD 3.0 billion of shares to be bought via a separate trading line on the SIX Swiss Exchange for capital reduction, running until February 2028 at the latest. Based on early 2026 prices and exchange rates, the maximum equated to about 63 million shares, roughly 1.9% of registered share capital.

UBS’s CET1 ratio was 14.4% at quarter-end, with a leverage ratio of 4.4%. Management noted that the pace and volume of capital returns will depend on short-term financial results and ongoing Swiss regulatory discussions that could tighten capital requirements for foreign subsidiaries.

Credit Suisse Integration Nears Completion

UBS completed the global migration of former Credit Suisse client accounts to its infrastructure in March 2026 and has entered the final phase of integration, the company said. The bank reported additional gross cost reductions of USD 1.1 billion in the second quarter, bringing cumulative gross cost savings since the end of 2022 to USD 12.6 billion—more than 90% of its roughly USD 13.5 billion target. Management said the integration remains on track to be substantially completed by the end of 2026.

More than 90% of legacy Credit Suisse IT applications within scope are no longer in use, and about 70% have been fully decommissioned. UBS framed these realized savings and franchise momentum as the operational basis for returning capital, while noting that regulatory outcomes will influence the timing and scale of future share repurchases.

“We entered the final phase of the integration,” the company said in its July 29 announcement.