UBS Group's Net Profit Soars 111% in Q2 2025

UBS Group AG reported a net profit of $2.395 billion for Q2 2025, marking a 111% increase from $1.136 billion in Q2 2024. Total revenues rose 2% year-over-year to $12.112 billion, compared to $11.904 billion in the same period last year. Analyst estimates for revenue were $9.410 billion, meaning UBS Group exceeded expectations, while the net profit of $2.395 billion translated to an EPS of $0.72, beating the analyst EPS estimate of $0.70.

Integration of Credit Suisse

UBS Group AG remains on track to substantially complete the integration of Credit Suisse by the end of 2026. The company successfully completed the first main wave of Swiss business migrations, having migrated approximately one-third of the targeted client accounts. The aim is to complete the Swiss booking center migrations by the end of the first quarter of 2026. Substantial progress has also been made in simplifying the legal entity structure in the US and Europe, including the merger of Credit Suisse Holdings (USA), Inc. with UBS Americas Inc. and the establishment of UBS Europe SE as the single EU intermediate parent undertaking ahead of schedule.

In the second quarter of 2025, UBS Group AG realized an additional $0.7 billion in gross cost savings, bringing cumulative gross cost savings to $9.1 billion compared to the 2022 combined cost base of UBS and Credit Suisse. This represents approximately 70% of the ambition to deliver around $13 billion in annualized exit rate gross cost savings by the end of 2026. The Non-core and Legacy business division has delivered a 62% reduction in risk-weighted assets (RWA) since the second quarter of 2023, with a goal for its credit and market risk RWA to be below $8 billion by the end of 2025. Operating expenses for this division, excluding litigation, are expected to be around $1.6 billion in 2025.

Capital Returns and Targets

On July 1, 2025, UBS Group AG launched a new program to repurchase up to $2 billion of shares, with plans to complete this in the second half of 2025. The company will communicate its 2026 capital returns ambitions with its fourth-quarter and full-year financial results for 2025. Share repurchases are subject to maintaining a CET1 capital ratio target of around 14% and achieving financial targets. The program launched in April 2024 was closed in May 2025 after completing the $2 billion of share repurchases as planned, with $1 billion of shares repurchased in the first half of 2025.