Quarterly ResultApr 30, 2026, 06:28 AM
UBS 1Q26 Net Profit $3B, EPS $0.94; Accelerates $3B Buyback; Opposes New Capital Rules
AI Summary
UBS Group AG reported excellent first-quarter 2026 results, with a net profit of $3 billion and an underlying pre-tax profit of $4 billion, up 54% year-on-year. The company achieved a 17% return on CET1 capital and a 70.2% cost-income ratio, driven by broad-based strength across all core businesses and regions. UBS also announced the successful completion of the Credit Suisse client migration and accelerated its $3 billion share repurchase program, expecting to finish by 2Q results. However, the company strongly disagreed with proposed Swiss bank capital regulations, which would require an additional $22 billion in CET1 capital, deeming them disproportionate and unaligned with international standards.
Key Highlights
- 1Q26 reported net profit $3 billion, with earnings per share of $0.94.
- Underlying pre-tax profit reached $4 billion, up 54% year-on-year, with a 17% return on CET1 capital.
- Revenues increased to $13.6 billion, up 18% across core franchises, achieving a 70.2% cost-income ratio.
- Expects to complete its current $3 billion share repurchase program by 2Q results in July.
- Opposes proposed Swiss bank capital regulations, which would require approximately $22 billion in additional CET1 capital.
- Successfully completed the migration of former Credit Suisse clients onto UBS platforms.
- Delivered an additional $800 million in gross cost reductions in 1Q, bringing cumulative savings to $11.5 billion.
- Investment Bank achieved its most profitable first quarter on record with pre-tax profit of $1.2 billion, up 75%.
Price Impact
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