We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
UBS Group AG (UBS - Free Report) reported a fourth-quarter 2025 net profit attributable to shareholders of $1.19 billion compared with $770 million in the prior-year quarter.
Results were driven by the strong performances of the Global Wealth Management, Asset Management and Investment Bank divisions. However, the decline in total assets was concerning.
For 2025, the company reported a net profit attributable to shareholders of $7.77 billion compared with $5.08 billion in the prior-year quarter.
UBS' Revenues & Expenses
The company’s fourth-quarter total revenues increased 4.4% year over year to $12.14 billion.
For 2025, the company’s revenues rose 1.9% year over year to $49.6 billion.
Operating expenses fell nearly 1% year over year to $10.29 billion.
UBS Group reported total credit loss expenses of $159 million, which declined 30.6% from the year-ago quarter.
UBS Group Business Divisions’ Performances
Global Wealth Management’s operating profit before tax was $1.29 billion, up from $867 million in the year-ago quarter.
Asset Management’s operating profit before tax was $212 million, up 65.6% from the year-ago quarter.
Personal & Corporate Banking reported operating profit before tax of $565 million, down 5% year over year.
The Investment Bank unit reported an operating profit before tax of $640 million, up from $479 million in the year-ago quarter.
Non-Core & Legacy incurred an operating loss before tax of $455 million in the reported quarter compared with a loss of $923 million in the year-ago quarter.
Group Items reported an operating loss before tax of $552 million compared with a loss of $100 million in the year-ago quarter.
UBS's Capital Position
Total assets fell nearly 1% from the previous quarter’s end to $1.62 trillion.
UBS’s return on Common Equity Tier 1 (CET1) capital was 6.6% as of Dec. 31, 2025, compared with 4.2% as of Dec. 31, 2024.
The risk-weighted assets declined 1% year over year to $493.4 billion.
The CET1 capital declined marginally year over year to $71.3 billion. As of Dec. 31, 2025, UBS's invested assets were $7 trillion, up 15.1% year over year.
UBS Group’s Capital Distribution Update
For 2025, the board of directors plans to propose a dividend of $1.10 per share to UBS shareholders. Subject to approval at the Annual General Meeting, scheduled for April 15, 2026, the dividend will be paid out on April 23 to shareholders of record as of April 22.
The company remains committed to progressive dividends and plans to accrue for a mid-teens percentage increase in the ordinary dividend per share for 2026.
In the fourth quarter of 2025, UBS completed its planned $3 billion worth of share repurchases. The company intends to repurchase $3 billion of shares in 2026, with an aim to do more, subject to clarity around the future regulatory regime in Switzerland.
UBS Progresses With Credit Suisse Integration Plan
The company is on track to substantially complete the integration of Credit Suisse by the end of 2026.
In the fourth quarter of 2025, UBS continued to advance its Swiss business migrations, with 85% of Swiss-booked client accounts migrated by the end of the quarter, while the migration of Personal & Corporate client accounts was substantially complete. The company remains on track to complete the Swiss booking center migrations by the end of the first quarter of 2026.
By the end of the fourth quarter of 2025, UBS had decommissioned around 73% of applications in the Non-core and Legacy division. Meanwhile, the transfer of Credit Suisse International’s residual business and related products to UBS AG London Branch and UBS Europe SE was largely completed.
In the fourth quarter of 2025, the company delivered an additional $0.7 billion in gross cost savings. Cumulative gross cost savings totaled $10.7 billion at the end of 2025 compared with the combined 2022 cost base of UBS and Credit Suisse. The company has identified additional synergies, allowing it to raise its ambition for annualized exit rate gross cost savings by the end of 2026 from around $13 billion to approximately $13.5 billion. Management expects cumulative integration-related expenses to be around $15 billion by the end of 2026, assuming constant foreign-exchange rates.
As of Dec. 31, 2025, the non-core and legacy business division has delivered a 67% reduction in risk-weighted assets (RWA) since the second quarter of 2023. UBS has achieved its ambition to reduce credit and market risk RWA to around $5 billion, and continues to target a further reduction to approximately $4 billion by the end of 2026.
Our Take on UBS Group
UBS’s inorganic growth efforts will support its top line. The company continues to make steady progress with the integration of Credit Suisse. UBS Group significantly reduced execution risks while maintaining a robust capital position.
ICICI Bank Ltd.’s (IBN - Free Report) profit after tax for the third-quarter fiscal 2026 (ended Dec. 31) was INR113.2 billion ($1.3 billion), down 4% from the prior-year quarter.
Results were hurt by a significant rise in provisions, higher operating expenses and treasury loss. However, rising net interest income and non-interest income, along with solid loan growth, were tailwinds for IBN.
Deutsche Bank (DB - Free Report) reported fourth-quarter 2025 earnings attributable to its shareholders of €1.29 billion ($1.55 billion), which rose significantly from €106 million ($126.8 million) reported in the prior-year quarter.
DB’s increased revenues and lower provisions for credit losses aided results. Notably, the decline in expenses was also encouraging.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
UBS Group Q4 Earnings & Revenues Increase Y/Y, Expenses Decline
Key Takeaways
UBS Group AG (UBS - Free Report) reported a fourth-quarter 2025 net profit attributable to shareholders of $1.19 billion compared with $770 million in the prior-year quarter.
Results were driven by the strong performances of the Global Wealth Management, Asset Management and Investment Bank divisions. However, the decline in total assets was concerning.
For 2025, the company reported a net profit attributable to shareholders of $7.77 billion compared with $5.08 billion in the prior-year quarter.
UBS' Revenues & Expenses
The company’s fourth-quarter total revenues increased 4.4% year over year to $12.14 billion.
For 2025, the company’s revenues rose 1.9% year over year to $49.6 billion.
Operating expenses fell nearly 1% year over year to $10.29 billion.
UBS Group reported total credit loss expenses of $159 million, which declined 30.6% from the year-ago quarter.
UBS Group Business Divisions’ Performances
Global Wealth Management’s operating profit before tax was $1.29 billion, up from $867 million in the year-ago quarter.
Asset Management’s operating profit before tax was $212 million, up 65.6% from the year-ago quarter.
Personal & Corporate Banking reported operating profit before tax of $565 million, down 5% year over year.
The Investment Bank unit reported an operating profit before tax of $640 million, up from $479 million in the year-ago quarter.
Non-Core & Legacy incurred an operating loss before tax of $455 million in the reported quarter compared with a loss of $923 million in the year-ago quarter.
Group Items reported an operating loss before tax of $552 million compared with a loss of $100 million in the year-ago quarter.
UBS's Capital Position
Total assets fell nearly 1% from the previous quarter’s end to $1.62 trillion.
UBS’s return on Common Equity Tier 1 (CET1) capital was 6.6% as of Dec. 31, 2025, compared with 4.2% as of Dec. 31, 2024.
The risk-weighted assets declined 1% year over year to $493.4 billion.
The CET1 capital declined marginally year over year to $71.3 billion. As of Dec. 31, 2025, UBS's invested assets were $7 trillion, up 15.1% year over year.
UBS Group’s Capital Distribution Update
For 2025, the board of directors plans to propose a dividend of $1.10 per share to UBS shareholders. Subject to approval at the Annual General Meeting, scheduled for April 15, 2026, the dividend will be paid out on April 23 to shareholders of record as of April 22.
The company remains committed to progressive dividends and plans to accrue for a mid-teens percentage increase in the ordinary dividend per share for 2026.
In the fourth quarter of 2025, UBS completed its planned $3 billion worth of share repurchases. The company intends to repurchase $3 billion of shares in 2026, with an aim to do more, subject to clarity around the future regulatory regime in Switzerland.
UBS Progresses With Credit Suisse Integration Plan
The company is on track to substantially complete the integration of Credit Suisse by the end of 2026.
In the fourth quarter of 2025, UBS continued to advance its Swiss business migrations, with 85% of Swiss-booked client accounts migrated by the end of the quarter, while the migration of Personal & Corporate client accounts was substantially complete. The company remains on track to complete the Swiss booking center migrations by the end of the first quarter of 2026.
By the end of the fourth quarter of 2025, UBS had decommissioned around 73% of applications in the Non-core and Legacy division. Meanwhile, the transfer of Credit Suisse International’s residual business and related products to UBS AG London Branch and UBS Europe SE was largely completed.
In the fourth quarter of 2025, the company delivered an additional $0.7 billion in gross cost savings. Cumulative gross cost savings totaled $10.7 billion at the end of 2025 compared with the combined 2022 cost base of UBS and Credit Suisse. The company has identified additional synergies, allowing it to raise its ambition for annualized exit rate gross cost savings by the end of 2026 from around $13 billion to approximately $13.5 billion. Management expects cumulative integration-related expenses to be around $15 billion by the end of 2026, assuming constant foreign-exchange rates.
As of Dec. 31, 2025, the non-core and legacy business division has delivered a 67% reduction in risk-weighted assets (RWA) since the second quarter of 2023. UBS has achieved its ambition to reduce credit and market risk RWA to around $5 billion, and continues to target a further reduction to approximately $4 billion by the end of 2026.
Our Take on UBS Group
UBS’s inorganic growth efforts will support its top line. The company continues to make steady progress with the integration of Credit Suisse. UBS Group significantly reduced execution risks while maintaining a robust capital position.
UBS Group AG Price, Consensus and EPS Surprise
UBS Group AG price-consensus-eps-surprise-chart | UBS Group AG Quote
Currently, UBS carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Foreign Banks
ICICI Bank Ltd.’s (IBN - Free Report) profit after tax for the third-quarter fiscal 2026 (ended Dec. 31) was INR113.2 billion ($1.3 billion), down 4% from the prior-year quarter.
Results were hurt by a significant rise in provisions, higher operating expenses and treasury loss. However, rising net interest income and non-interest income, along with solid loan growth, were tailwinds for IBN.
Deutsche Bank (DB - Free Report) reported fourth-quarter 2025 earnings attributable to its shareholders of €1.29 billion ($1.55 billion), which rose significantly from €106 million ($126.8 million) reported in the prior-year quarter.
DB’s increased revenues and lower provisions for credit losses aided results. Notably, the decline in expenses was also encouraging.