UBS Group (UBS) Stock: Rises on $2.8 Billion Profit and Buybacks
TLDR
- UBS shares gain 1.86% after quarterly net profit reaches a strong $2.8 billion.
- UBS records $13.7 billion in revenue as its core banking businesses expand.
- Client assets hit a record $7.3 trillion as global wealth inflows stay strong.
- Credit Suisse integration savings reach $12.6 billion before final completion.
- UBS plans $3 billion in buybacks while preserving a strong 14.4% CET1 ratio.
UBS Group (UBS) shares rose 1.86% in pre-market trading to $52.99 after closing 0.97% lower at $52.03. The gain followed strong second-quarter earnings, steady client inflows, and expanded share repurchase plans. UBS reported $2.8 billion in net profit as Credit Suisse integration savings strengthened results.
UBS Reports Strong Profit and Revenue Growth
UBS generated $3.6 billion in second-quarter profit before tax, marking a 64% increase from the previous year. Underlying profit before tax reached $3.9 billion, while diluted earnings stood at $0.87 per share. The bank also delivered a 15.4% return on common equity tier one capital.
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