Significantly more than expected UBS makes a quarterly profit of 2.5 billion US dollars
UBS earned significantly more than expected in the third quarter of 2025: Profit rose by 74 percent to 2.48 billion dollars. The result was boosted by the settlement of two legal cases.
29.10.2025, 06:53
29.10.2025, 06:56
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- UBS increased its quarterly profit by 74 percent to 2.48 billion US dollars and clearly exceeded expectations.
- Positive effects came from the release of provisions in connection with legal cases in France and the USA.
- In addition, the bank made rapid progress with the integration of Credit Suisse and its savings targets.
UBS increased its profit sharply in the third quarter and also earned significantly more than analysts had expected. Two major legal cases, which the big bank was able to settle, also had a positive impact on the result.
Profit for the months of July to September 2025 amounted to USD 2.48 billion, as UBS announced on Wednesday. This was 74 percent more than in the same period last year. The bank was able to release provisions for legal cases totaling USD 668 million. This was mainly due to the out-of-court settlement in the tax dispute with France in September and the conclusion of the RMBS case of CS in the USA ("junk mortgages").
Pre-tax profit of 3.59 billion
Before taxes, the bank earned 2.83 billion, an increase of 47 percent. Adjusted for various items, pre-tax profit even amounted to 3.59 billion (+50%). With these figures, Switzerland's largest bank has massively exceeded market expectations. Analysts surveyed by AWP had expected a consolidated profit of just 1.13 billion.
The bank's income rose by 3 percent to 12.76 billion dollars, while expenses fell by 4 percent to 9.83 billion. The cost/income ratio, which is important for a bank, was therefore 77.0 percent in the quarter under review; on an adjusted basis, the figure even fell below 70 percent at 69.7 percent.
In its core business, global wealth management, UBS attracted net new assets of 38 billion dollars. As a result, the entire Group managed assets totaling 6.9 trillion dollars at the end of September. This compares with 6.6 trillion dollars at the end of June 2025.
First savings target achieved earlier than expected
The bank also made further progress with the integration of CS. The transfer of client accounts in Switzerland is more than two-thirds complete. UBS also cut further costs by a gross amount of 0.9 billion dollars. The target of USD 10 billion by the end of the year has therefore already been achieved one quarter earlier than planned, according to the statement. By 2026, it should be around 13 billion compared to the level of 2022 or before the CS takeover.
"We achieved an excellent financial result in the third quarter of 2025," UBS CEO Sergio Ermotti was quoted as saying in the press release. Both private and institutional clients were very active.
UBS is cautious as usual in its outlook for the further course of business. Although transaction activity and the deal pipelines remain solid, the mood could change quickly. Macroeconomic uncertainties, together with the strong franc and higher US tariffs, are weighing on the outlook for the Swiss economy, and a prolonged shutdown of the US federal government could lead to delays in capital market activities.
