UBS Posts $2.4 Billion Q2 Profit on Strong Core Business, Lower Costs

UBS (NYSE:UBS) reported a second-quarter 2025 net profit of $2.4 billion, more than double the $1.1 billion earned a year earlier, driven by gains in core operations and reduced integration costs from its Credit Suisse acquisition. Profit before tax rose 49% to $2.2 billion, while underlying profit before tax climbed 30% to $2.7 billion. Group revenues increased 2% year over year to $12.1 billion, with underlying revenues up 4% to $11.5 billion. Operating expenses fell 6% to $9.8 billion, while underlying costs dropped 3% to $8.7 billion, improving efficiency metrics.

Global Wealth Management contributed $1.2 billion in profit before tax, supported by a 12% rise in transaction-based income and $23 billion in net new assets, bringing total invested assets to $4.5 trillion. The Investment Bank delivered $557 million profit before tax, with revenues up 6% to $3 billion, driven by a 25% surge in Global Markets income from equities and foreign exchange. Asset Management posted $153 million profit before tax as invested assets rose to $1.95 trillion despite $2 billion in net outflows.

The Credit Suisse integration advanced, with significant client account migrations completed. UBS achieved $0.7 billion in new gross cost savings during the quarter, raising total savings to $9.1 billion—about 70% of its $13 billion target. The CET1 capital ratio stood at 14.4%, while share buybacks totaled $0.5 billion, with plans to repurchase up to $2 billion in the second half.

UBS also expanded its artificial intelligence initiatives, with 8 million AI prompts logged and its internal assistant, Red, reaching 52,000 employees ahead of a full rollout in 2026. For the first half of 2025, net profit totaled $4.1 billion, underscoring continued momentum in the bank’s transformation.