UBS Investment Bank Revenues Hit Record 3.7 Billion
The global wealth manager reported a 31% year-over-year increase in investment bank revenues driven by a 53% surge in equities [9][46].
Investment bank revenues reached a record 3.7 billion in the second quarter of 2026, representing a 31% increase compared to the prior-year period. The growth was led by equities revenues, which rose 53% year-over-year on the back of strong client activity and momentum in the APAC region. Pre-tax profit for the investment bank was 1.2 billion, more than double the result from the same quarter a year ago.
Global Wealth Management, the primary engine of the Swiss-based firm, saw pre-tax profit grow 38% year-over-year to 2 billion. Net interest income within the segment rose 1% sequentially to 1.8 billion due to higher loan volumes.
Similar trends appeared in Personal & Corporate Banking, where net interest income increased 2% from the previous quarter due to higher loan volumes. The group's total loan book grew 1% sequentially to 1.7 trillion in assets.
Credit quality metrics softened during the period. Group credit loss expense rose to 121 million in the second quarter, up from 70 million in the first quarter. The cost of risk increased to 7 basis points from 4 basis points in the prior quarter.
UBS (UBS) announced a new 3 billion dollar share repurchase program to be completed by the end of the second quarter of 2027, with at least 1 billion planned for the next three months. The CET1 capital ratio ended June at 14.4%, a decrease of 30 basis points from 14.7% in the first quarter. A new 3 billion share repurchase program accrual created a 60-basis-point drag on the ratio.
Operating efficiency improved slightly as the underlying cost-income ratio moved to 70% from 70.2% in the first quarter. Total headcount fell 4% sequentially to 112,000 from 116,814 at the end of the previous period.