UBS Surges Ahead: Driving Integration and Embracing AI
UBS reported a robust performance for the second quarter and first half of 2025. With client account integrations on track, invested assets at a record $6.6 trillion, and a bold push into generative AI, the bank is positioning itself as a future-ready global powerhouse.
UBS posted a net profit of $2.4 billion for the second quarter of 2025 and $4.1 billion for the first half, according to a media release published on Wednesday. The results are slightly above the consensus of financial analysts.
«We sustained robust momentum during a quarter that started with extreme volatility by staying close to our clients and executing on our integration plans,» UBS CEO Sergio Ermotti noted.
Client momentum remained strong in a challenging market, with $38 billion in net new assets in Global Wealth Management (GWM) and record-breaking revenues in Prime Brokerage. Transaction-based income in GWM rose by 12 percent year-on-year, and invested assets reached an all-time high of $6.6 trillion.
Full Migration Expected by Q1 2026
UBS confirmed that approximately one-third of targeted client account migrations from Credit Suisse to UBS Switzerland have been completed. Full migration is expected by Q1 2026. Legal entity simplifications in the US and Europe also saw substantial progress.
«We are positioning for long-term success by further enhancing our global capabilities, investing in our future infrastructure and AI, while actively engaging in the debate on future regulation in Switzerland,» Ermotti said.
The bank delivered an additional $700 million in gross cost savings, bringing the total realized savings to 70 percent of its $13 billion target. Decommissioning efforts include the shutdown of approximately 700 applications, which represent 56 percent of the former Credit Suisse systems.
Balance Sheet For All Seasons
The Group also completed $500 million in share buybacks and plans to repurchase up to $2 billion by year-end. «We maintained a balance sheet for all seasons while delivering on our capital return plans. Our ability to generate capital is funding investments and sustainable shareholder returns,» the CEO emphasized.
The Group's loan-to-deposit ratio stood at a conservative 81 percent, with a cost of risk of only 10 basis points. Credit issuance in Switzerland during the quarter reached 4 billion francs ($5 billion), underlining UBS’ commitment to the local economy.
AI Assistant Being Rolled Out to All Employees by Early 2026
A standout focus was UBS’s accelerating investment in generative AI. Over 1,100 legacy business apps have already been decommissioned in 2025, and the bank has processed 8 million AI tool prompts in the second quarter alone.
UBS’s proprietary AI assistant «Red», which gives users intelligent access to UBS products, research, and CIO reports, is currently rolled out to 52,000 employees with general availability planned for the first half of 2026
The bank also launched a firm-wide AI leadership initiative in collaboration with Oxford University, targeting over 250 senior leaders to foster AI adoption and promote ethical transformation. The Group now supports more than 280 active AI use cases across the business, up 10 percent from Q1.
«This allows us to fulfill our commitment to support all the communities where we live and work,» Ermotti stated.
Actively Engaged in the Debate on Future Regulation
Looking ahead, UBS expects stable net interest income in Switzerland and a modest increase in dollar terms. While trading activity is normalizing after the first quarter's volatility, UBS forecasts around $400 million in pull-to-par revenues to help offset integration expenses.
The bank remains confident in achieving its 2025 and 2026 financial targets by leveraging its diversified business model and continuing to execute on growth, integration, and innovation plans.
«We are actively engaging in the debate on future regulation in Switzerland, while fulfilling our responsibility to communities and clients alike,» Ermotti reiterated.
