UBS reported a pre-tax profit (PBT) of $2.2 billion for the second quarter of 2025, with an underlying PBT of $2.7 billion and a net profit of $2.4 billion. The return on common equity tier 1 capital (RoCET1) was 13.5%, while the underlying RoCET1 reached 15.3%. The bank's core businesses, which include Global Wealth Management, Personal & Corporate Banking, Asset Management, the Investment Bank, and Group Items, saw a combined underlying PBT increase of 25% compared to the same period last year.
For the first half of 2025, UBS posted a PBT of $4.3 billion and an underlying PBT of $5.3 billion. Net profit for this period was $4.1 billion, with RoCET1 at 11.6% and underlying RoCET1 at 13.3%.
The bank cited ongoing client activity despite market volatility as a driver for growth in group invested assets. Global Wealth Management reported net new assets totaling $54.8 billion in the first half of the year and achieved a 12% year-on-year increase in transaction-based income during the second quarter. The Global Markets division recorded its best second quarter ever, with revenues up by 25% from last year due to record balances and revenues in Prime Brokerage.
UBS said integration efforts remain on schedule, with one-third of client accounts booked in Switzerland already migrated to its systems. The company achieved an additional $0.7 billion in gross cost savings during the quarter, bringing total cumulative reductions to $9.1 billion—about 70% of its targeted $13 billion.
Progress also continued in winding down non-core and legacy activities as well as simplifying legal entity structures; risk-weighted assets within Non-core and Legacy fell by $1.5 billion sequentially to $32.7 billion.
UBS maintained what it described as a strong capital position: its common equity tier 1 capital ratio stood at 14.4%, while its CET1 leverage ratio was at 4.4%. The bank stated that its capacity to generate capital is supporting both strategic investments and sustainable returns for shareholders.
On capital return plans for this year, UBS completed share buybacks worth $0.5 billion so far and aims to repurchase up to another $2 billion in shares during the second half of 2025 while continuing to accrue toward double-digit dividend growth.
UBS highlighted its role as "a reliable partner for the Swiss economy," noting that it granted or renewed around CHF 40 billion in loans over the quarter.
Looking ahead, UBS said it is positioning itself for long-term success by strengthening global capabilities and investing in technology such as generative AI and cloud infrastructure to enhance secure delivery and productivity gains; it is also participating actively in discussions about future regulatory requirements within Switzerland.
"Reliable partner for the Swiss economy, staying close to private clients and businesses with our balance sheet for all seasons and leading credit offering," UBS stated in its announcement.
"Positioning for long-term success by strengthening global capabilities and investing into future-ready infrastructure and tools, including Gen AI and cloud to enable secure, scalable delivery and boosting productivity," according to UBS management.