UBS Reports 17% CET1 Return, Accelerates Buybacks with APAC Driving One-Third Profits
UBS posted a 17% return on CET1 capital and maintained a 70% cost/income ratio in Q1 2026, driving record profits and enabling accelerated share buybacks by end-July. The Asia Pacific division delivered one-third of group pre-tax profit and achieved double-digit net new asset growth following Credit Suisse client migrations.
1. Q1 Financial Performance
UBS achieved a 17% return on CET1 capital and a 70% cost/income ratio in the first quarter, marking its strongest start of the year and keeping the firm on track to meet its 2026 financial targets. Robust performance was driven by improved net interest income and disciplined expense management.
2. Credit Suisse Integration
The integration process involved workforce reductions described as the most challenging element, yet UBS successfully migrated former Credit Suisse clients to its platforms. Client activation and retention rates have exceeded internal expectations, supporting overall franchise stability.
3. Asia Pacific Growth
The Asia Pacific region accounted for approximately one-third of group pre-tax profit, driven by double-digit net new asset growth in Global Wealth Management. Lower US dollar rates supported lending expansion, while strategic partnerships and digital investments deepened client relationships.
4. Accelerated Share Buybacks
Strong integration progress and excess capital generation have allowed UBS to accelerate its current share buyback program, aiming for completion by the end of July. Management continues to monitor CET1 capital levels and regulatory requirements before determining any further buyback magnitude.