UBS revealed a share repurchase plan of at least $3 billion for 2026 following quarterly net earnings that surpassed market expectations. The strong performance, driven in part by robust wealth management and investment banking returns, supports the bank’s growth and capital distribution strategy.
The Swiss lender reported net profit attributable to shareholders of $1.2 billion for the fourth quarter, marking a 56% rise from the previous year, and outperforming the analyst consensus of $919 million. Underlying pre-tax earnings climbed 62% to $2.87 billion for the same period.
Full-year results showed a profit of $7.77 billion, translating to $2.36 per share, while annual revenue registered at $49.57 billion. Revenue for the last quarter reached $12.15 billion, helped by healthy fee and transaction incomes in wealth management, as well as solid contributions from investment banking and global markets. This figure was nearly in line with the $12.1 billion average analyst estimate.
UBS finished the fourth quarter with a common equity tier 1 (CET1) capital ratio of 14.4%, slightly lower than the 14.8% recorded at the end of the prior quarter.
Chief Executive Sergio P. Ermotti affirmed confidence in the bank’s 2026 financial targets, including a projected $1.10 dividend per share and a commitment to repurchase at least $3 billion in stock. UBS is targeting an 18% return on CET1 and a 67% cost/income ratio by 2028.
Looking ahead, UBS expects a minor decline in net interest income from its global wealth management business in the first quarter of 2026, but anticipates that income from its core banking division will remain stable.
