UBS Group AG Revenue & Financials

UBS Group AG reported total revenues of $47.69 billion in FY2025, a 13% increase from $42.32 billion in FY2024, driven primarily by the full-year consolidation of Credit Suisse AG revenues following the legal merger completed on May 31, 2024. Net profit attributable to shareholders was $3.54 billion in FY2025, compared to $1.48 billion in FY2024, a 139% increase that reflects the full-year revenue contribution from Credit Suisse offset by continued integration costs. Operating profit before tax was $4.10 billion in FY2025, up 69% from $2.43 billion in FY2024. The cost/income ratio improved to 90.2% in FY2025 from 93.0% in FY2024, but remains well above the bank's historical target of approximately 75%. Total operating expenses were $43.04 billion in FY2025, up 9% from $39.36 billion in FY2024, with the increase driven by the full-year consolidation of Credit Suisse expenses and $5.05 billion in integration-related costs. Net credit loss expenses were $549 million in FY2025, broadly stable from $544 million in FY2024. The return on common equity tier 1 capital was 5.0% in FY2025, up from 2.2% in FY2024, but still below the bank's target of 10-12%. Total assets stood at $1.617 trillion as of December 2025, compared to $1.568 trillion at December 2024. Equity attributable to shareholders was $90.21 billion, with a CET1 capital ratio of 14.9% and a total loss-absorbing capacity ratio of 36.7%. The leverage ratio denominator was $1.52 trillion, with a CET1 leverage ratio of 4.8%. Invested assets totaled $6.99 trillion, up from $6.09 trillion in FY2024, driven by positive market performance and net new money of $61 billion. The bank's liquidity coverage ratio was 186.1% and the net stable funding ratio was 124.1%, both well above regulatory minimums. Net interest income was $10.06 billion in FY2025, up from $8.97 billion in FY2024, reflecting the full-year impact of Credit Suisse and higher interest rates. Fee and commission income was $25.89 billion in FY2025, up from $21.93 billion in FY2024. The dividend for FY2025 was proposed at $0.90 per share, with $0.45 from total profit and $0.45 from capital contribution reserve, totaling approximately $1.56 billion in distributions. The market capitalization as of June 2026 was approximately $155 billion, with a trailing P/E of 16.95 and a forward P/E of 15.02. The stock has returned 44.29% over the past year and 229.25% over five years, outperforming the MSCI World index. On a per-share basis, basic EPS was $1.09 in FY2025, up from $0.46 in FY2024. Diluted EPS was $1.08, compared to $0.45 in FY2024. The tangible book value per share was $28.47 as of December 2025. The bank's net interest margin was 149 basis points in FY2025, down from 168 basis points in FY2024, reflecting deposit margin compression. The cost/income ratio by division was: Global Wealth Management 81.6%, Personal & Corporate Banking 75.7%, Asset Management 73.8%, Investment Bank 87.4% (FY2024), and Non-core and Legacy negative. The group effective tax rate was 22.1% in FY2025, compared to 21.4% in FY2024. Total risk-weighted assets were $489.2 billion as of December 2025, with CET1 capital of $72.9 billion. The bank's total capital ratio was 20.1%, well above the minimum requirement of 11.9%. The leverage ratio was 6.0%, compared to a minimum requirement of 3.5%. The bank's total loss-absorbing capacity was $179.5 billion, exceeding the minimum requirement of $121.8 billion. The bank's funding structure is primarily deposit-based, with customer deposits of $315.2 billion in Switzerland and significant additional deposits in the Americas and Europe. Wholesale funding includes senior unsecured debt, covered bonds, and secured funding, with a weighted average maturity of approximately 4.5 years. The bank's credit ratings are: Moody's Aa3 (long-term senior unsecured), S&P AA- (long-term counterparty credit), and Fitch AA- (long-term issuer default). These ratings reflect the bank's strong capital position, diversified revenue base, and the implicit support of the Swiss government as a systemically important institution.