Quarterly ResultApr 30, 2026, 06:31 AM
AMUB Q1 Net Profit $3B, EPS $0.94; $3B Buyback by July
AI Summary
UBS AG reported strong first-quarter 2026 results with a net profit of $3 billion and underlying pre-tax profit up 54% year-over-year to $4 billion, achieving a 17% return on CET1 capital. The company successfully completed the migration of Swiss-booked Credit Suisse clients and is on track to achieve its 2026 financial objectives, including accelerating its $3 billion share repurchase program to complete by July. However, UBS strongly disagrees with proposed Swiss bank capital regulations, which would require an additional ~$22 billion in CET1 capital, potentially impacting its competitive position and shareholder returns.
Key Highlights
- Reported net profit $3 billion; underlying pre-tax profit $4 billion, up 54% YoY.
- Earnings per share $0.94; return on CET1 capital 17%.
- Revenues $13.6 billion, up 18% across core franchises; cost-income ratio 70.2%.
- Delivered $800 million in gross cost reductions in Q1, cumulative $11.5 billion (85% of YE26 target).
- Current $3 billion share repurchase program expected to complete by 2Q results in July.
- Global Wealth Management pre-tax profit almost $2 billion (+28% YoY); net new assets $37 billion.
- Investment Bank pre-tax profit $1.2 billion (+75%); revenues $4 billion (+31%).
- Proposed Swiss capital regulation would require ~$22 billion in additional CET1 capital.