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UBS reported fourth-quarter net profit rose 56 per cent year on year to $1.2bn, boosted by strong client activity and cost savings from its Credit Suisse takeover.
The performance at Switzerland’s biggest bank beat analyst expectations and was underpinned by its core franchises, with wealth management income rising 20 per cent in the September-to-December quarter from the same period a year earlier.
The investment bank recorded a 17 per cent increase in global markets revenues, driven by strength in equities and foreign-exchange trading.
Full-year net profit rose 53 per cent to $7.8bn, while net new assets totalled $101bn in 2025.
UBS, which took over its rival Credit Suisse in a state-sponsored takeover in 2023, said it had raised targeted integration synergies to $13.5bn, after identifying an additional $500mn of cost savings, with gross cost reductions reaching $10.7bn by the end of 2025.
Chief executive Sergio Ermotti said the bank was on track to capture remaining integration synergies by the end of 2026.
“We made great progress on one of the most complex integrations in banking history while facing ongoing regulatory uncertainty in Switzerland,” he said.
Swiss regulators continue to scrutinise the enlarged bank, which faces uncertainty over potential increases in capital requirements as Swiss authorities review the country’s regulatory framework following Credit Suisse’s collapse.
UBS said it had completed a $3bn share buyback in 2025 and intended to repurchase at least another $3bn of shares this year, subject to regulatory clarity and maintaining its capital targets.
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