UBS Q1 profit jumps 80% to $3.04 billion as revenues hit $14.2 billion
UBS net profit rose 80% year-on-year to $3.04 billion in Q1 2026, while revenues increased 13% to $14.2 billion. Global wealth management added $37.4 billion in net new assets, offsetting an $85 billion quarter-on-quarter drop in invested assets.
1. Q1 financial results
UBS reported net profit attributable to shareholders of $3.04 billion in Q1 2026, an 80% increase from a year earlier, and revenues rose 13% to $14.2 billion. Group CEO Sergio Ermotti highlighted strong client engagement and broad-based growth across all core segments as key drivers.
2. Segment performance breakdown
Global wealth management revenues climbed 11% to $7.1 billion with net new assets of $37.4 billion, despite an $85 billion sequential decline in invested assets. Personal & Corporate Banking revenues edged up 2% to SFr2.02 billion, asset management grew 4% to $772 million, and investment banking soared 27% to $4.05 billion.
3. Integration milestone completion
UBS completed migration of around 1.2 million Swiss-booked client accounts onto its infrastructure in March, marking the end of one of the largest banking integrations. Management expects to substantially finish the overall integration by year-end, aiming to streamline operations and drive further growth.
4. Capital buffer disagreement
Switzerland’s proposal to require UBS to build roughly $20 billion in additional capital buffers sparked a strong rebuttal from the bank. UBS described the plan as extreme, lacking international alignment and dismissing concerns raised during consultation.