UBS Sets Sights on Expansion Following Successful Credit Suisse Integration, Q2 Earnings Surpass Expectations

UBS has outperformed second-quarter earnings predictions as it approaches the final stages of integrating Credit Suisse. As the bulk of the merger process concludes, the global leader in wealth management is progressively refocusing on expansion.

In the second quarter, UBS posted a pre-tax profit of $3.6 billion, marking a 64% surge compared to the same period last year. The net profit reached $2.8 billion, surpassing analysts’ predictions. In the first half of 2026, UBS, the Swiss banking powerhouse, made a pre-tax profit of $7.4 billion and a net profit of $5.8 billion.

These figures bolster the management’s belief that their acquisition of Credit Suisse, a deal completed over three years ago, is starting to yield the predicted financial benefits.

Integration: A Hard-Won Trophy

Sergio Ermotti, Group Chief Executive, depicted the integration as a seminal accomplishment in the bank’s recent history. He stated that acquiring Credit Suisse was not a gift, but a trophy that UBS had to earn. Ermotti acknowledged that the journey has not been smooth, but the amalgamated bank is beginning to enjoy the fruits of its extensive restructuring initiative. UBS reassured that it remains on course to surpass its 2026 profitability goals on an exit-rate basis while attaining its cost-efficiency targets.

The initial steps of the final phase of the Credit Suisse integration were marked by the completion of large-scale client data migration in Switzerland earlier this year. UBS has now achieved $12.6 billion in gross cost savings, amounting to around 90% of its $13.5 billion target set for the end of this year. In the second quarter alone, the bank generated another $1.1 billion in gross savings.

The technology integration is also nearing its conclusion with over 90% of legacy applications no longer being used and approximately 70% fully decommissioned, significantly reducing operational complexity across the group.

With most integration milestones achieved, UBS is projected to devote more management attention and capital to organic growth across its global wealth management franchise.

Wealth Management Continues to Power Growth

The group’s principal wealth management business maintained its sturdy growth trajectory.

Global Wealth Management drew in $36 billion in net new assets during the second quarter and $73 billion in the first half of the year. Simultaneously, Asset Management generated an additional $20 billion in net inflows.

Invested assets hit a new high of $7.3 trillion at the end of June. UBS noticed particularly strong client inflows from Switzerland, EMEA, and Asia-Pacific, emphasizing the strategic significance of these regions to the bank’s future growth aims.

Capital returns are also set to increase as UBS advances with integration. After concluding its previous share repurchase program in July, the bank announced a new share buyback program of up to $3 billion, set to run until the end of the second quarter in 2027. UBS intends to repurchase at least $1 billion of shares in the next three months.

With stronger earnings, record client assets, and the near completion of integration, UBS is likely entering a new phase post-Credit Suisse—one that’s increasingly focused on growing its global wealth management franchise rather than integrating the one it acquired.