UBS expects to exceed 2026 return on CET1 capital target of about 15%
UBS•UBS expects to exceed its 2026 exit-rate underlying return on CET1 capital target of about 15%, after a 17% return for the first nine months. It expects year-end gross cost savings of $13.7 billion and plans $1.2 billion in fourth-quarter share repurchases.
1. Targets and savings
UBS expects to exceed its 2026 exit-rate underlying return on CET1 capital target of about 15%, following a 17% return over the first nine months. The underlying cost-to-income ratio remains on track to finish below 70%, compared with 70% for the first nine months. Cumulative gross cost savings are expected to reach $13.7 billion by year-end, above the previous $13.5 billion ambition.
2. Capital and buybacks
UBS expects year-end CET1 capital to fall to around 14% from 14.7%, including a potential accrual for initial 2027 share buybacks. Fourth-quarter share repurchases will total $1.2 billion, completing the current program after $4.8 billion in repurchases year-to-date.
