UBS today announced robust third-quarter 2025 results, delivering a profit before tax (PBT) of USD 2.8 billion and an underlying PBT of USD 3.6 billion. The Group achieved a net profit of USD 2.5 billion, with a return on CET1 capital (RoCET1) of 13.5% and an underlying RoCET1 of 16.3%. Underlying PBT from core businesses rose 28% year-on-year, or 19% excluding litigation, reflecting strong client engagement and solid execution across divisions.
UBS continued to attract strong client inflows, driving 4% sequential growth in Group invested assets to USD 6.9 trillion. Global Wealth Management reported USD 38 billion in net new assets (NNA) in the quarter, bringing year-to-date NNA to USD 92 billion. Asset Management surpassed the USD 2 trillion milestone in invested assets, supported by USD 18 billion in net new money during 3Q25.
In a favorable market environment, UBS leveraged its scale and client franchise to deliver strong trading and deal activity. Global Wealth Management transaction-based income increased 11% year-on-year on an underlying basis. Global Banking posted a record third quarter, up 52% year-on-year, while Global Markets achieved a 14% year-on-year increase, also marking a record third quarter.
UBS continues to make excellent progress on integration, with over two-thirds of Swiss-booked client accounts already migrated and the integration of Asset Management substantially completed. The Group achieved USD 0.9 billion in additional gross cost savings in the quarter, bringing total cumulative cost reductions to USD 10 billion — one quarter ahead of schedule. This represents 77% of the targeted USD ~13 billion in gross savings expected by end-2026.
UBS remains a reliable partner for Switzerland’s economy, staying close to private clients and businesses through its leading credit offering. The Group granted or renewed around CHF 40 billion in loans during the quarter, reinforcing its role in supporting local growth.
UBS continued to advance the Non-core and Legacy wind-down, achieving a USD 1.9 billion sequential reduction in risk-weighted assets to USD 30.7 billion. The resolution of legacy UBS and Credit Suisse legal matters resulted in net litigation reserve releases of USD 668 million.
The Group maintained a “balance sheet for all seasons,” with a CET1 capital ratio of 14.8% and a CET1 leverage ratio of 4.6%. UBS completed USD 1.1 billion in share buybacks in 3Q25 and plans up to USD 0.9 billion in 4Q25, positioning it to reach USD 3 billion in total repurchases for 2025. The bank continues to accrue for a double-digit dividend increase.
UBS continues to invest strategically for the long term, having submitted its National Bank Charter application in the U.S. and expanded its adoption of Generative AI across the firm. The bank remains actively engaged in shaping Switzerland’s banking regulatory framework, contributing to the ongoing political process.
UBS delivered another strong quarter, demonstrating resilient performance, disciplined execution, and continued progress toward its strategic goals.
