Deutsche Bank and UBS beat forecasts again with second-quarter earnings on Wednesday, buoyed by a surge in trading activity and strong retail business as Europe's lenders extend a more than two-year-long recovery.
CNBC linked JPMorgan Chase, Charles Schwab, UBS and Stephens Inc. to at least four of President Donald Trump's eight investment accounts by analyzing firm-specific funds, deposit programs and credit arrangements outlined in his 2025 annual financial disclosure. Across the eight accounts, Trump disclosed at least $858 million in assets and more than 21,000 trades in 2025.
UBS CEO Sergio Ermotti said the bank benefitted from "strong momentum" during the second quarter, as pre-tax profits rose to $3.6 billion. He warned of "temporary headwinds" arising from ongoing geopolitical volatility.
UBS stock faces an early test on Wednesday after the Swiss bank delivered a larger-than-expected second-quarter profit, stronger wealth inflows and a fresh buyback pledge, giving investors several reasons to look beyond the headline beat. Net profit attributable to shareholders reached $2.8 billion, above the $2.4 billion average forecast in a company-compiled analyst poll.
UBS booked a 17% jump in second-quarter profit on Wednesday, ahead of expectations, and said it plans to buy back shares worth $3 billion by the middle of next year at the latest.
The Swiss banking group's net profit rose due to its investment banking and wealth management units.
ZURICH--(BUSINESS WIRE)--Regulatory News: UBS (NYSE:UBS) (SWX:UBSN): “Almost three years ago, we presented our first set of consolidated results. From the beginning, I made it clear that the acquisition of Credit Suisse was not a gift that we received, but rather a prize that we would all have to fight to win. As expected, the journey was not a straight line. It required a lot of hard work from...