UBS reported a $2.8 billion net profit for the second quarter. This figure represents a 17% year-over-year increase and exceeded analyst expectations.
The investment banking division more than doubled its pretax profit. The global wealth management arm attracted $36 billion in net new assets during the period.
The Swiss lender announced a new share buyback program worth up to $3 billion. UBS plans to repurchase at least $1 billion in shares over the next three months. The program will conclude by the second quarter of 2027. This initiative follows the completion of a separate $3 billion repurchase program in July.