UBS AG has released its financial report for the second quarter of 2025. The report includes a cautionary statement about forward-looking statements, outlining several risks and uncertainties that could impact the bank’s future performance.
According to UBS, “This report contains statements that constitute ‘forward-looking statements’, including but not limited to management’s outlook for UBS’s financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS’s business and future development and goals or intentions to achieve climate, sustainability and other social objectives. While these forward-looking statements represent UBS’s judgments, expectations and objectives concerning the matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS’s expectations.”
The report notes that the integration of Credit Suisse entities into UBS is ongoing and expected to continue through 2026. This process presents operational and execution risks, including the possibility that cost reductions and business benefits may not be achieved as planned. There are also concerns about higher-than-expected costs related to this integration or unforeseen liabilities in the acquired business.
UBS highlights that Switzerland is considering significant changes to its capital, resolution, and regulatory regime following the failure of Credit Suisse. If adopted, these changes could increase capital requirements or impose additional costs on UBS.
Other factors identified by UBS as potentially affecting its performance include success in executing strategic plans such as cost reduction initiatives; managing risk-weighted assets (RWA), leverage ratio denominator (LRD), liquidity coverage ratio; adapting to market conditions; inflation; interest rate volatility; macroeconomic developments; currency exchange rates; real estate markets; client sentiment; availability of capital; central bank policies; implementation of new regulations in major financial centers like Switzerland, the US, UK, EU; compliance with sanctions regulations amid geopolitical turmoil; competitive position relative to other banks due to regulatory differences; legal liabilities from litigation or regulatory investigations; talent retention challenges; changes in accounting or tax standards; adoption of new technologies including artificial intelligence and digital services; operational failures such as cyberattacks or fraud; restrictions on payments or distributions by subsidiaries due to regulatory actions in case of financial difficulties.
UBS also mentions reputational risks stemming from media reports or speculation as potential influences on its business performance. The sequence in which these factors are presented does not indicate their likelihood or possible impact magnitude.
The bank states: “UBS’s business and financial performance could be affected by other factors identified in its past and future filings and reports, including those filed with the US Securities and Exchange Commission (the SEC). More detailed information about those factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including the UBS Group AG and UBS AG Annual Reports on Form 20-F for the year ended 31 December 2024. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.”
The report clarifies that numbers presented may not add up precisely due to rounding practices. Blank fields within tables indicate non-applicability or unavailable data at relevant dates.
For further inquiries regarding this report, media contacts are available for Switzerland (+41-44-234 85 00), UK (+44-207-567 47 14), Americas (+1-212-882 58 58), and APAC (+852-297-1 82 00).