Trending Now - UBS Targets $3 Billion Buyback Amid 80% Surge in Q1 Profits
WHO:
Bloomberg Markets - Sergio Ermotti, CEO of UBS Group AG
CNBC - UBS, a Swiss banking and asset management giant
WHAT:
CNBC - UBS plans for further share buybacks by the end of the year.
CNBC - CEO Sergio Ermotti stated, "We saw all our business delivering double-digit growth in profitability."
CNBC - UBS warned that second quarter net interest income across its global wealth management and personal and corporate banking businesses is set to be "broadly flat."
CNBC - UBS generated a net profit attributable to shareholders of $3 billion for the first quarter, up 80% year-on-year.
CNBC - UBS's profit surpassed the $2.8 billion estimated by analysts.
CNBC - UBS's common equity tier (CET) 1 capital ratio increased to 14.7% during the period, up from 14.4% the previous quarter.
CNBC - UBS repurchased $900 million of shares during the three-month period.
Bloomberg Markets - UBS aims to complete a $3 billion buyback by the end of July.
CNBC - Underlying profits before tax totaled $3.9 billion for the quarter, up 54% year-on-year.
WHERE:
CNBC - UBS is headquartered in Zurich, Switzerland.
WHEN:
Bloomberg Markets - UBS plans to complete the $3 billion buyback "by the end of July."
CNBC - UBS reported its first quarter earnings on a Wednesday.
WHY:
CNBC - UBS indicated that markets have remained "resilient" amid hopes of a lasting resolution to the ongoing Middle East conflict.
CNBC - CEO Sergio Ermotti stated that UBS had a "very strong quarter," demonstrating resilience despite tensions arising from the U.S.-Iran war.
HOW:
CNBC - UBS highlighted strong performances in its equity capital markets business and growth in its alternative assets unit, noting "good momentum across the board."
(UPDATED April 29, 2026 11:28 UTC)
UBS has announced plans for further share buybacks by the end of the year, as CEO Sergio Ermotti highlighted that all business segments are delivering double-digit growth in profitability. However, the bank has also warned that its second quarter net interest income across global wealth management and personal and corporate banking is expected to be "broadly flat." This mixed outlook reflects both strong performance in certain areas and challenges ahead.
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(UPDATED April 29, 2026 09:37 UTC)
UBS, the Swiss banking and asset management giant headquartered in Zurich, reported a net profit attributable to shareholders of $3 billion for the first quarter, marking an impressive 80% increase year-on-year and surpassing analyst estimates of $2.8 billion. CEO Sergio Ermotti described the quarter as "very strong," highlighting resilience in the markets despite ongoing tensions from the U.S.-Iran war, and noted that UBS plans to complete a $3 billion buyback by the end of July. Additionally, the bank's common equity tier one capital ratio rose to 14.7% during the period, up from 14.4% the previous quarter, with underlying profits before tax totaling $3.9 billion, reflecting a 54% year-on-year increase.