UBS profit surges 80% to $3B as Credit Suisse integration nears completion

UBS Group (NYSE:UBS) reported a surge in first-quarter profitability on Wednesday, April 29, 2026, as the banking giant nears the final stages of its historic integration of Credit Suisse.

The Zurich-based lender posted a net profit of $3 billion, an 80% increase year-over-year, driven by a resurgence in client trading activity and significant asset inflows across its global footprint.

The quarter was defined by strong momentum in Global Wealth Management (GWM), which attracted $37 billion in net new assets.

This influx suggests a restoration of client confidence following the 2023 rescue of its former rival.

Transaction-based income in the wealth division rose 17%, while the Investment Bank saw a 27% revenue jump, fueled by record performance in Global Markets and a rebound in Global Banking fees.

UBS reported a Return on Common Equity Tier 1 (RoCET1) capital of 16.8%, well above its medium-term targets.

The bank's efficiency drive remains ahead of schedule; it delivered an additional $0.8 billion in cost reductions during the quarter, bringing its cumulative merger-related savings to $11.5 billion.

On the capital front, UBS maintained a robust CET1 capital ratio of 14.7%.

The bank continues to prioritize shareholder returns, repurchasing $0.9 billion of shares during the quarter and accruing for "mid-teens" percentage growth in its dividend.

Management reiterated its goal to complete $3 billion in share buybacks by the second-quarter results, with the potential for further repurchases by the end of 2026.