# UBS Group AG: recent events UBS reports in US dollars, so all amounts below are as the company states them. As a foreign private issuer, UBS furnishes its results on Form 6-K. ## Filings that contain financial statements - Form 6-K filed 28 October 2026, accession 0001610520-26-000106: the Third Quarter 2026 Report of UBS Group AG. It holds the Group income statement and statement of comprehensive income on a nine-month basis (30 September 2026 against 30 September 2025), the balance sheet at 30 September 2026 against 31 December 2025, and quarterly results tables for the three months ended 30 September 2026, 30 June 2026 and 30 September 2025. From 2026 UBS prepares its first- and third-quarter consolidated information under its own IFRS-consistent accounting policies rather than IAS 34, without all the explanatory notes; this report states that it is not an IAS 34 interim financial report. It contains no cash flow statement. - Form 6-K filed 29 July 2026, accession 0001610520-26-000082: UBS Group interim report for the six months ended 30 June 2026, prepared under IAS 34. It holds the income statement, balance sheet, statement of changes in equity and statement of cash flows. - Form 6-K filed 29 July 2026, accession 0001610520-26-000084: UBS Group AG standalone interim financial information for the six months ended 30 June 2026 (income statement and balance sheet of the parent company alone, not the consolidated Group). - Form 6-K filed 29 July 2026, accession 0001610520-26-000085: UBS Switzerland AG standalone interim financial information for the six months ended 30 June 2026 (income statement, balance sheet and statement of changes in equity of that subsidiary alone). - Form 6-K filed 28 October 2026, accession 0001610520-26-000108: capitalization table of UBS Group AG at 30 September 2026 for use in securities offerings; it is not a set of financial statements. - Form 6-K filed 28 October 2026, accession 0001610520-26-000111: third quarter 2026 results presentation slides; summary figures only. - Form 6-K filed 28 October 2026, accession 0001610520-26-000109 (capital instruments and TLAC-eligible debt) and 0001610520-26-000112 (Pillar 3 Report at 30 September 2026) carry regulatory capital disclosures, not financial statements. ## Third quarter 2026 results (6-K filed 28 October 2026, accession 0001610520-26-000106) - Total revenues were $13,350 million in the third quarter, against $13,700 million in the second quarter of 2026 and $12,760 million in the third quarter of 2025. Operating expenses were $9,648 million, and operating profit before tax was $3,587 million (second quarter $3,594 million; a year earlier $2,828 million). Net profit attributable to shareholders was $2,690 million, with diluted earnings per share of $0.85 (second quarter $0.87; a year earlier $0.76). Underlying operating profit before tax was $4,077 million. - Nine-month net profit attributable to shareholders was $8,530 million against $6,568 million a year earlier; diluted earnings per share were $2.66 against $1.99. - The common equity tier 1 (CET1) capital ratio was 14.7% at 30 September 2026 (14.4% at 30 June 2026); the CET1 leverage ratio was 4.6%. Risk-weighted assets were $496,111 million, and total assets were $1,655,168 million. - Underlying return on CET1 capital was 16.7% and the underlying cost/income ratio was 68.7%. ## Items that moved the third quarter - **Repurchase of legacy Credit Suisse debt (September 2026).** UBS repurchased $9.8 billion aggregate principal amount of legacy Credit Suisse senior debt instruments at an acquisition cost of around $9.9 billion. It recognized a net loss of $346 million in Other income in the third quarter, including the release of $241 million of purchase price allocation adjustments, and expects lower ongoing interest expense to offset the loss in future periods. This is a completed transaction. - **Settlement of legacy legal matters.** In the third quarter UBS resolved and settled certain legacy matters recorded in Non-core and Legacy, for a net gain of $697 million recorded in Other income and included in underlying results. - **Integration of Credit Suisse.** UBS says it is on track for substantial completion by year-end 2026. Cumulative gross cost savings reached $13.2 billion at the end of September 2026 (including $0.6 billion added in the quarter), and UBS now expects about $13.7 billion by the end of 2026, above its prior ambition of about $13.5 billion. Cumulative integration-related expenses were $14.6 billion, with about $15.1 billion expected by year-end (previously about $15 billion), at constant 2023 exchange rates. ## Capital returns - UBS repurchased $1,807 million of shares in the third quarter of 2026. It expects to complete its current $3 billion share repurchase program by the time it publishes fourth-quarter 2026 results. The pace remains subject to performance, a CET1 ratio of around 14%, and visibility on the Swiss Parliament's deliberations on capitalization of foreign subsidiaries (accession 0001610520-26-000106). - In the second quarter report (6-K filed 29 July 2026, accession 0001610520-26-000082), UBS said it completed its previous buyback program in July 2026 and began the $3 billion program, to be completed by the end of the second quarter of 2027. - **2025 dividend (paid April 2026).** The 2025 ordinary cash dividend of USD 1.10 per share, up from USD 0.90 for 2024 (about 22%), was approved at the 2026 Annual General Meeting and paid in April 2026, with distributions to shareholders of USD 3,404 million. The same meeting approved cancellation of 63,776,550 shares repurchased under the 2024 program (accession 0001610520-26-000082, 6-K filed 29 July 2026). For 2026, UBS says it is accruing for a mid-teen percentage increase in dividend per share (accession 0001610520-26-000023). ## Regulatory and capital developments - **Swiss capital rules.** In September 2026 the Swiss Council of States supported a proposal requiring systemically important banks to deduct 90% of the carrying value of foreign participations from regulatory capital, entirely from CET1. The proposal still goes to the National Council. If enacted as supported, it would phase in from 2028 at the earliest and require UBS AG to hold about $16 billion of additional CET1 capital, on top of about $2 billion from ordinance-level measures announced earlier in 2026 and about $15 billion already required under existing rules following the Credit Suisse acquisition. UBS says that would total about $33 billion of incremental CET1 capital since the acquisition, partly offset by an estimated $4 billion that the ordinance-level changes would release at Group level, for annual capital-related costs of about $2.5 billion. This is a proposal, not enacted law (accession 0001610520-26-000106). - **Too-big-to-fail consultations.** In August 2026 the Swiss Federal Council opened two consultations: one on legislative measures (recovery and resolution requirements, central bank liquidity access, a Senior Managers Regime and wider FINMA powers) and one on amendments to the Liquidity Ordinance. Both run to November 2026. A final proposal to Parliament is expected in the first half of 2027, with entry into force no earlier than the beginning of 2029 (accession 0001610520-26-000106). ## Other transactions - **Fund administration (October 2026).** UBS agreed to extend its relationship with Northern Trust and to transfer its former Credit Suisse traditional and alternatives fund administration businesses in Luxembourg and Switzerland to Northern Trust. This is signed, not closed: it is subject to regulatory approvals and expected to close in the second quarter of 2027, with no material profit or loss expected (accession 0001610520-26-000106). - **Swisscard (January 2026).** UBS completed the sale of its 50% interest in Swisscard AECS GmbH to American Express. This is closed. The first six months of 2026 included a USD 163 million gain related to the Swisscard transactions, of which USD 128 million was excluded from underlying revenues (accessions 0001610520-26-000023 and 0001610520-26-000082). - **360 ONE WAM Ltd (22 October 2026).** UBS exercised all of its warrants in the Indian wealth manager, which it had subscribed for under a second-quarter 2025 agreement. It now holds 20.5 million shares, about 4.8% of the company, with no material profit or loss (accession 0001610520-26-000106). ## Earlier 2026 filings - 6-K filed 29 July 2026 (accession 0001610520-26-000082, second quarter): total revenues of $13,700 million and net profit attributable to shareholders of $2,800 million, as shown in the third quarter report's comparatives. Related furnished material: earnings presentation (0001610520-26-000083), capital instruments and TLAC debt (0001610520-26-000086), capitalization table (0001610520-26-000087), earnings call transcript filed 30 July 2026 (0001610520-26-000089), and the 30 June 2026 Pillar 3 Report filed 14 August 2026 (0001610520-26-000104). - 6-K filed 5 May 2026 (accession 0001610520-26-000056): newly registered Articles of Association of UBS Group AG dated 15 April 2026. - 6-K filed 30 April 2026 (accession 0001610520-26-000053): transcript of the first quarter 2026 earnings call, in which management cited a 17% return on CET1 capital and a 70% cost/income ratio.