UBS doubles its net profit in the second quarter

The group claims to have made great progress in the integration of the late Credit Suisse. Similarly, the migration of its customers’ accounts. Consequently, The action increased by 1.1%. For example,

The UBS banking group released between April and late June a net profit of 2.40 billion dollars (1.93 billion francs), multiplied by two over one year. In addition, The performance was notably supported by dissolution up to 427 million provisions linked to Credit Suisse. Moreover, as well as a delayed tax credit of 577 million.

The last big bank in the country also saw its assets under management increased to $ 6618 billion. against 6153 billion in late March.

The operating product reached 12.11 billion dollars (+1.7%), when operating expenditure was reduced by almost 6% to 9.76 billion. The before tax profit thus exploded by almost half to 2.19 ubs doubles its net profit billion, the intermediary report broadcast on Wednesday.

The equity yield jumped at 13.5%, after 9.6% in the first quarter and 5.9% a year earlier. The cost/income ratio improved by 1.7 percentage points to 80.5%.

Analysts consulted by the AWP agency anticipated an average of an operating product of $ 12.02 billion, a before tax gain of 1.99 billion and a net profit of 2.23 billion.

The group claims to have made great progress in the integration of the late Credit Suisse. Additionally, the migration of its customers’ accounts. A new cost reduction of 700 million has brought the total savings to 9.1 billion, out of the 13 billion targeted.

A third of customer accounts in Switzerland from Credit Suisse has now been repatriated under the standard UBS. the group intends to finalize the process by the end of March 2026.

The establishment with the three keys has also continued to ubs doubles its net profit eliminate assets placed in its disadvantage bank, pruning for 1.5 billion weighted assets of additional risk to bring them to 32.7 billion.

Active shareholders

The banking behemoth renews its remuneration plan from its shareholders in the short term. notwithstanding the planned increase by 2027 hard fund requirements.

The project involves expanding at least 10% its dividend under the current financial year. comparing with the 90 cents per share paid for 2024 and repatriating for up to 2 billion francs from its own shares by the end of the year, after having already bought for 1 billion over the first six months.

However, the latter part remains conditioned on the maintenance of the hard equity ratio (CE1) around 14%. This ratio settled at the end of June at 14.4%.

Always considering “disproportionate” the project to strengthen equity material requirements for systemic establishments put in consultation by the Federal Council. the ubs doubles its net profit director general Sergio Ermotti returned to a press conference at the end of August/early September for a more detailed position.

Analysts applauded in unison a performance greater than their forecasts. The UBS action closed the session up 1.1% to 30.96 francs, in a SMI in 0.23%.